According to TechFlow, The Block reported that the crypto wallet company Backpack announced that it has obtained a license from the Dubai Virtual Asset Regulatory Authority (VARA) and plans to launch the cryptocurrency exchange Backpack Exchange.
The exchange will employ advanced technologies such as zero-knowledge proofs and multi-party computation to improve security and efficiency.
The new exchange is scheduled to begin testing in November 2023 and open to the public in the first quarter of 2024.
