The Dubai Virtual Assets Regulatory Authority (VARA) has issued a Virtual Asset Service Provider (VASP) license to the crypto wallet Backpack, resulting in the launch of Backpack Exchange.
Backpack’s VARA license is limited to crypto exchange services in Dubai and does not allow the company to offer any other of its virtual asset products and services. According to the announcement, the Backpack exchange incorporates zero-knowledge proof of reserves (zk-proofs), Multi-Party Computation…
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