BACKPACK LAUNCHING CRYPTOCURRENCY EXCHANGE WITH DUBAI LICENSE

Summary from the TLDR Crypto newsletter

Crypto wallet company Backpack is set to launch a regulated exchange named Backpack Exchange, following its acquisition of a Virtual Asset Service Provider license from Dubai's Virtual Assets Regulatory Authority. The exchange, scheduled for a beta launch next month, will be fully rolled out by Q1 2024. The launch was made possible despite setbacks faced by the company, including a loss of $14.5 million in the FTX exchange's collapse.