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. 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). Our VARA license does not cover Futures or Margin Trading, and these services are therefore not available in the UAE. This License covers those users onboarded by Trek Labs Ltd FZE on the basis of declared UAE residency and satisfactory completion of UAE KYC requirements. It does not extend to any other entity operating under the Backpack Exchange brand.

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Names of All Responsible Individuals

Vrunda Pandya, Head of Compliance

Nicholas Ting, Head of Operations