BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

Backpack Exchange Unveils Expansion into 11 States

by Sham
February 21, 2024
in Uncategorized
A A
Backpack Exchange Unveils Expansion into 11 States
2
SHARES
Share on TwitterShare on Reddit
  • Backpack crypto exchange has expanded its services to users across 11 US states including California and Colorado, marking a major milestone as it establishes its presence in the American crypto market.
  • Backpack obtained regulatory approval through the VASP license from Dubai VARA, showing its commitment to compliance and transparency as it grows.
  • Backpack raised $20M from leading blockchain investors to evolve into a digital wallet for xNFTs, highlighting investor confidence in its potential as it continues expanding in the US crypto space.

Backpack crypto exchange, established by former executives from FTX and Alameda Research, has announced the expansion of its services to users across 11 US states. This marks a major milestone as Backpack solidifies its presence in the American crypto market.

ICYMI: Mad Lads @Backpack exchange is now live in 11 U.S. states:

– California

– Colorado

– Indiana

– Missouri

– New Hampshire

– Pennsylvania

– Tennessee

– Utah

– Virginia

– Wisconsin

– Wyoming

— BlockNews.com (@blocknewsdotcom) February 21, 2024

Backpack Reveals State Expansion

Backpack revealed through a Twitter thread that it has started offering services to users in 11 US states, including California, Colorado, Wisconsin, Wyoming, and seven others. This expansion is a crucial step as Backpack aims to expand its footprint in the US crypto space.

Backpack’s Regulatory Milestone and Funding Surge

The exchange has obtained the Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA), showing its commitment to compliance and transparency.

In September 2022, Backpack raised $20 million through blockchain firm Coral. The investment aimed to evolve Backpack into a digital wallet for executable non-fungible tokens (xNFTs).

The funding round was led by FTX Ventures and Jump Crypto, with participation from Multicoin Capital, Anagram, K5 Global, Frictionless, and others.

In November 2023, reports indicated Backpack’s plan to sell a 10% stake, valuing it at over $100 million. This highlights investor confidence in Backpack’s potential.

Future Outlook

As Backpack continues expanding in the US, it remains focused on providing innovative solutions while meeting security and compliance standards.

With industry veterans leading it, Backpack is poised for further growth and success in the dynamic crypto landscape.

Tags: backpack exchangeDubai Virtual Assets Regulatory AuthorityFTXtwitterVirtual Asset Service Provider
Tweet1ShareShare1

DON'T MISS THESE! HOT OFF THE PRESS

XRP at a Crossroads: Only Two Ways This Can Go
Crypto

XRP at a Crossroads: Only Two Ways This Can Go

June 20, 2025
TRON Breaks Resistance: Is a $1+ Move Coming?
Uncategorized

TRON Breaks Resistance: Is a $1+ Move Coming?

June 19, 2025
Solana Price Dips, But Optimism Grows for 2025 and Beyond
Uncategorized

Solana Price Dips, But Optimism Grows for 2025 and Beyond

June 16, 2025
Bitcoin Eyes Breakout as Traders Stay Cautious, Ethereum Heats Up
Uncategorized

Bitcoin Eyes Breakout as Traders Stay Cautious, Ethereum Heats Up

June 11, 2025
Analysts Believe XRP Could Be Headed Toward a $3 Breakout, But This Needs to Happen First
Uncategorized

Analysts Believe XRP Could Be Headed Toward a $3 Breakout, But This Needs to Happen First

June 9, 2025
Shiba Inu Set for Explosive 200% Surge Next Week, Analyst Predicts
Uncategorized

Shiba Inu Set for Explosive 200% Surge Next Week, Analyst Predicts

June 6, 2025
Load More

Related News

Chainlink Struggles Amid Market Downturn

Chainlink Struggles Amid Market Downturn

June 20, 2025
Is $300K Bitcoin Really Possible? Why Top Experts Say It’s Not as Crazy as It Sounds

Is $300K Bitcoin Really Possible? Why Top Experts Say It’s Not as Crazy as It Sounds

June 21, 2025
Altcoin ETF Odds Surge: XRP DOGE ADA Nearing Approval Threshold

Altcoin ETF Odds Surge: XRP DOGE ADA Nearing Approval Threshold

June 20, 2025
XRP Stuck Below $3 as Network Activity and Open Interest Decline

XRP Stuck Below $3 as Network Activity and Open Interest Decline

June 20, 2025
Vladimir Putin Says Global Tensions Edge Toward World War III

Vladimir Putin Says Global Tensions Edge Toward World War III

June 20, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.