Backpack Exchange is regulated in the European Union through Backpack EU, its dedicated European platform. Backpack EU is tri-licensed, holding three regulatory authorisations across crypto-asset services, investment services, and payment services.
Trek Labs Europe Ltd holds a Cyprus Investment Firm (CIF) licence under MiFID II issued by the Cyprus Securities and Exchange Commission (CySEC). Trek Technologies SIA holds a Crypto-Asset Service Provider (CASP) licence under the Markets in Crypto-Assets Regulation (MiCA) and a Payment Institution licence, both granted by Latvijas Banka on 27 May 2026.
What Backpack EU's licences cover
Each licence authorises a distinct set of regulated activities under a specific EU framework.
Cyprus Investment Firm (CIF) licence under MiFID II
Trek Labs Europe Ltd is authorised by the Cyprus Securities and Exchange Commission (CySEC) as a Cyprus Investment Firm under licence number 273/15. Under MiFID II, the licence permits Trek Labs Europe Ltd to provide the following investment services in financial instruments, including derivatives:
- Reception and transmission of orders
- Execution of orders on behalf of clients
- Dealing on own account
The authorisation also covers related ancillary services, including safekeeping and administration of financial instruments (custodianship). This licence forms the legal basis for Backpack EU's regulated perpetual futures offering.
Crypto-Asset Service Provider (CASP) licence under MiCA
Trek Technologies SIA is authorised by Latvijas Banka to provide the following crypto-asset services under MiCA:
- Custody and administration of crypto-assets on behalf of clients
- Exchange of crypto-assets for funds
- Exchange of crypto-assets for other crypto-assets
- Execution of orders for crypto-assets on behalf of clients
- Transfer services for crypto-assets on behalf of clients
Payment Institution licence under PSD2
Trek Technologies SIA is also authorised by Latvijas Banka to operate as a payment institution under PSD2. The licence permits Trek Technologies SIA to execute payments, including making transfers to payment accounts.
What this means for European users
Backpack EU's licensing structure shapes how it is authorised to operate across Europe.
Coverage across all 27 EU member states
Backpack EU's authorisations extend across all 27 EU member states, giving it a regulated footprint that covers the full European Union.
Three regulatory permissions covering different activities
The three licences map to three distinct categories of regulated activity in Europe:
- MiCA covers crypto-asset services
- MiFID II covers investment services
- Payment Institution licence under PSD2 covers payment services
Together, these licences authorise Backpack EU to serve users across Europe while upholding the trust, transparency, and regulatory standards required to connect onchain and traditional financial markets.
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