Backpack, an all-in-one Web3 wallet, has become the latest to receive a Virtual Asset Service Provider (VASP) license in Dubai. The approval will enable Backpack to launch a regulated cryptocurrency exchange service in the city.
Per the company’s press release, Backpack Exchange is set to launch in private beta for its members in November before going live to the public in early 2024. The beta version will feature spot crypto trading functionality, it added.
