The cryptocurrency exchange platform, Backpack, has recently announced a strategic partnership with Banxa, a global provider of cryptocurrency access solutions. This collaboration will allow Backpack users in over 130 countries to easily access cryptocurrency buying and selling solutions, significantly expanding the options available to its customers.
1 Billion Volume and a Major Partnership for Backpack
Backpack has impressed the crypto community by surpassing $1 billion in trading volume within 24 hours on February 18, just four days after the launch of its trading pre-season. The SOL/USD pair on Backpack is currently the most traded Solana spot trading pair in the world, with over $890 million in trading volume within 24 hours, surpassing other major platforms.
The partnership with Banxa, announced on February 19, represents a major advancement for the user experience of Backpack, according to the on/off-ramp solution:
“Now, users in over 130 countries can easily buy/sell digital assets. Get ready to experience smoother transactions and greater accessibility. Together, we are making crypto more inclusive than ever!”
A Virtual License in Dubai and Global Presence
In October 2023, Backpack obtained a virtual asset service provider license from the Dubai Virtual Assets Regulatory Authority, solidifying its regulatory position and expanding its international footprint. The platform also acquired numerous other operational licenses worldwide in the second half of 2023.
