Backpack
Backpack is a centralized cryptocurrency exchange (CEX) that integrates a self-custody wallet, allowing users to trade while maintaining control of their funds. It is built by the team behind the Solana-based wallet and identity protocol Backpack, and emphasizes a non-custodial trading model where assets remain in the user's wallet until trade settlement. The platform supports spot trading and aims to bridge the gap between centralized exchange liquidity and decentralized self-custody.
News
TLDR on Backpack: - It's a traditional brokerage model. - All shareholder rights are given like other traditional brokers holding real security entitlements. - Because of UCC Article 8, you actually have *more* rights than crypto brokers without this. - Clearing broker is RQD. - Dividend witholding
Stocks private beta is now available to all Backpack VIP users.
RT @SolanaCoach: Gm. @Backpack Stocks V1 is just focking great. https://t.co/GKKw5AnIX4
Elon Musk arrived in North America at 17 with $2000, a backpack & a suitcase full of books. Paid his own way thru college. Dropped out of Stanford Eng/Phys grad school w $110k in college debt. Rest is History.
Will share more on this soon. It’s been over three years in the making to get to this point, but the holy trinity has been achieved. The only other exchange in the world that has gotten regulated perps, spot, and payments live in the EU is Kraken. The other will be Backpack. We’re coming Europe.
.@Backpack has been quietly obtaining all the licenses to offer a no-limits product that has everything your traditional brokerage offers + a LOT more Europe + Japan + USA Look at the signal in the noise. The next chapter of crypto will look a lot different from cycles past
RT @Backpack: Trading Trail Week 3 is live 🎒 Trade and unlock up to $500 in cash rewards. Extra $10 reward for new users completing Level…
RT @MadSimon_sol: I’m a @MadLads x @Backpack believer, fanboy or whatever you wanna call it You can laugh about it or ridicule it I don’…
Analysis: The money laundering path of the stolen funds from Drift involves Backpack accounts, and KYC information may be a key clue
Backpack CEO: The team did not cash out through OTC, and the short-term FDV has no practical significance