Web3 pockets Backpack to launch VASP-licensed crypto trade in Dubai

The Dubai Digital Belongings Regulatory Authority (VARA) has issued a Digital Asset Service Supplier (VASP) license to the crypto pockets Backpack, ensuing within the launch of Backpack Trade.

Backpack’s VARA license is restricted to crypto trade providers in Dubai and doesn’t permit the corporate to supply some other of its digital asset services and products. In line with the announcement, Backpack Trade incorporates zero-knowledge (ZK) proof-of-reserves, multi-party computation (MPC) for custody and low-latency order execution, amongst different options.

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