Backpack: Crypto exchange launches Perps trading in Europe

European users of the Backpack crypto exchange can now trade perpetual futures in a fully regulated environment. Since 2024, Backpack has been operating in over 150 countries and handles a trading volume of $170 billion.
The launch follows Backpack's acquisition of FTX EU Ltd in early 2025 and the settlement of FTX EU customers' claims since May of this year.
Backpack CEO Armani Ferrante explains: “After compensating former FTX EU customers, we now offer one of Europe’s first fully regulated crypto derivatives platforms.”
He continues: “We are entering the EU market at a time when regulation is becoming clearer, institutions are increasingly adopting crypto – and at the same time there is a lack of regulated trading venues.”
Under a MiFID II license, Backpack EU offers over 40 trading pairs with up to 10x leverage.
Perps, or perpetual futures, are perpetual crypto derivatives that function like futures but have no expiration date.
This allows traders to bet on rising or falling prices without owning the underlying cryptocurrency. A special funding mechanism ensures that the price of the Perp remains closely linked to the spot price of the cryptocurrency.
The crypto project Hyperliquid has further fueled enthusiasm for the sector since the launch of its native token. Arthur Hayes recently predicted that HYPE would increase more than 100-fold.

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