# VARA License Information

Information regarding the Backpack Exchange VARA license including license number, licensed activities and names of all responsible individuals.

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**License Number**

License No. VL/23/07/001

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**Licensed Activities**

**Trek Labs Ltd FZE** is licensed and regulated by the **Dubai Virtual Assets Regulatory Authority (VARA)** under an **Exchange Services License**.\
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This authorises us to operate as a virtual asset exchange in the UAE and provide **Spot Trading Services** (i.e., trading virtual assets for immediate settlement).\
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Our VARA license **does not cover Futures or Margin Trading**, and these services are therefore **not available in the UAE**.

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**Names of All Responsible Individuals**

Sherif Eid, Head of Compliance

Nicholas Ting, Head of Operations