Global Regulatory Footprint
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Regulatory Philosophy
Backpack takes a compliance-first approach, securing licenses before entering new markets.
Entities: Backpack Exchange (VARA, Dubai), Trek Labs Europe Ltd (MiFID II, Cyprus), Trek Labs, Inc. (FinCEN MSB, US).
Key Milestones
VARA VASP license; Backpack Exchange beta launch
500K+ KYC-verified users
150+ countries, $60B+ cumulative volume
Acquired FTX EU ($32.7M) — MiFID II license secured
MiFID II reissued to Trek Labs Europe Ltd
Daily Proof of Reserves (OtterSec)
Backpack EU launch; US spot trading rollout
Japan entry — Borrow & Lend + Points
Grid Bots, Prediction Portfolio; ~$400B cumulative
Mark Wetjen (ex-CFTC) joins as Backpack US President
Disclaimer: Informational only, current as of March 2026. Subject to change. Visit Backpack Exchange Support for latest info. Not available in all jurisdictions.