Web3 digital wallet company Backpack is rolling out its own cryptocurrency exchange after being issued a license in Dubai.
Web3 digital wallet company Backpack has announced it is launching a cryptocurrency exchange after securing a key license from the Dubai Virtual Assets Regulatory Authority, or VARA.
VARA is responsible for regulating "all virtual asset activities across the Emirate of Dubai," according to the statement. Ferrante's move to start an exchange of his own appears to be inspired, at least in part, by the calamity caused by FTX's downfall.
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