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Backpack Goes Global: Launches Exchange with Dubai License
Backpack has officially launched its cryptocurrency exchange after securing a full Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This makes it one of the first exchanges fully licensed under Dubai’s comprehensive crypto framework.
"It's time to put an end to the days of opaque crypto exchanges representing everything our industry stands against," said co-founder Armani Ferrante. "It shouldn't be normal to use an exchange with a single point of failure, without proof of reserves, or without auditability."
Backpack’s Dubai launch marks a major milestone in its broader mission to create a transparent, secure, and compliant global trading platform.