Backpack is a regulated centralized exchange (CEX) that operates in jurisdictions across the world. * Streamlined KYC (Know Your Customer) process * Multi-Party Computation * Low latency order execution * Customer self-custody
Backpack operates on the Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA). VARA is the worlds first independent regulator for virtual assets. They provide a framework for Backpack to operate transparently in all jurisdictions: * robust KYC requirements * investor safeguards * ongoing audits