Backpack is a regulated centralized exchange (CEX) that operates in jurisdictions around the world. * Streamlined KYC (Know Your Customer) process * Multi-party computing * Low latency order execution * Customer self-hosting

Backpack operates using a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA). VARA is the world's first independent virtual asset regulator. They provide a framework for Backpack to operate transparently across all jurisdictions: * Strong KYC requirements * Investor safeguards *