Backpack EU, the company behind FTX EU — the former European arm of the collapsed FTX exchange — has officially resumed operations following a settlement with the Cyprus Securities and Exchange Commission (CySEC).
Registered with CySEC as Trek Labs Europe, Backpack EU announced on Monday the launch of its perpetual futures platform across Europe, according to a statement to Cointelegraph.
“After fulfilling our commitment to refund former FTX EU customers, we are excited to begin our journey as one of the first fully regulated crypto derivatives platforms in Europe, starting with perpetual futures,” said Armani Ferrante, CEO of Backpack.
The announcement follows Backpack’s acquisition of FTX EU in early 2025 and its ongoing management of FTX EU customer claims since May 2025.
Operating Under a MiFID II License
The launch of Backpack EU’s perpetual futures platform builds on the company’s authorization under the Markets in Financial Instruments Directive (MiFID II), granted by CySEC.
In June 2025, CySEC reissued the MiFID II license to Trek Labs Europe after the company settled with the regulator, paying 200,000 euros ($235,000) for “possible violations” connected to FTX.
CySEC had previously suspended FTX EU’s Cyprus investment firm (CIF) license in November 2022, following the collapse of its parent company, FTX.
