Europe's New Crypto Era Starts Today: A Note from Backpack CEO Armani Ferrante

‍The end of the European Union’s MiCA transition period marks a significant milestone for the digital assets industry. Trust is the foundation of any financial system, and clear, consistent regulation for crypto assets plays a vital role in building and maintaining that trust.

We applaud European regulators for their leadership in implementing and enforcing a regulatory framework that strengthens transparency, market integrity, and investor protection across the region.

There are three main licenses in Europe covering different regulated activities: MiCA (crypto-asset services); MiFID II (investment services), and PSD2 (payments). Today, only a very select few companies in the digital asset industry have attained all three, and I’m proud that Backpack is one of them.

The future of digital assets will be built by firms that embrace accountability and regulations. We welcome these higher standards and remain committed to building the safest, most reliable, and most transparent platform for digital assets. Our conviction is shaped by a clear understanding of the risks that arise when safeguards are ignored, and that is why our commitment is unwavering.