Backpack Exchange

About

Backpack Exchange is a crypto exchange built with a strong focus on speed, transparency, and user control. It launched in 2022 and runs as a regulated centralized exchange (CEX), while also bringing in Web3 elements, self-custody features, and institutional-grade trading infrastructure. It is part of the Backpack ecosystem, which includes the Backpack Wallet and the Mad Lads NFT collection. This setup brings together trading, NFTs, and decentralized apps in one area. Backpack Exchange positions itself as a compliant and transparent crypto trading platform for the future, with regulatory backing including a VARA license in Dubai, and aims to grow globally. Key Features of Backpack Exchange: • • MPC and proof-of-reserves are used to maintain the security and transparency of finances. • Supports several chains, including Arbitrum, Solana, Ethereum, and Polygon. • Permits idle assets to be automatically lent to generate passive income. • Combines xNFTs and NFTs to create interactive Web3 experiences. • Provides competitive trading fees, tight spreads, and substantial liquidity. • Includes a points and rewards system with possible airdrop advantages. • Uses a lightning-fast matching engine to enable low-latency trading. Backpack Exchange Milestones Year Achievements 2022 Founded by Armani Ferrante and Tristan Yver, they launched the Backpack Wallet. 2023 Secured a VARA License as a Virtual Asset Service Provider (VASP) from Dubai’s Regulatory Authority in October. Opened the regulated exchange for beta testing in November. Built strong ecosystem synergies with the Mad Lads community and Backpack Wallet using the xNFT standard. 2024 Raised $17M in Series A funding at a $120M valuation, led by Placeholder VC with Hashed and Robot Ventures. 2025 Launched Backpack EU in September with regulated perpetual futures in Europe Opened a public beta for Futures and partnered with Superstate to bring tokenized RWA (Real World Assets) on-chain

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