MadLads creator Backpack has launched a crypto exchange now that it has secured a VASP license from Dubai.

Backpack Exchange will first be made available as a private beta for existing Backpack and MadLads community members sometime in November. The exchange, which will only offer spot trading for the time being, will publicly launch in the first quarter of 2024. 

Developers will be working to add derivatives and margin trading to the exchange after its launch, according to a press release. 

Backpack founder and CEO Armani Ferrante announced the news early Tuesday morning on X, formerly Twitter, saying that creating this exchange was “the hardest yet most important project” his…

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