Established in 2022, Backpack is a compliant cryptocurrency firm operating across multiple jurisdictions. It centers on two primary offerings: a centralized exchange (CEX) and a self-custodial wallet. The CEX holds licenses from VARA in Dubai, CySEC in the EU, and other regulatory bodies. It provides spot, margin, and futures trading through one cross-margined account, backed by zero-knowledge proof of reserves. The wallet supports Solana, Ethereum, and additional chains. It incorporates xNFT technology, allows users to lock NFT collections, integrates with hardware wallets, and includes scam detection features. Together, these products create a vertically integrated system that merges the safety of self-custody with the liquidity and regulatory adherence of a licensed exchange.