Backpack EU secures MiCA and Payment Institution Licenses from Bank of Latvia, completing Tri-License status with MiFID II.

MiCA covers CASP activity, MiFID II covers financial instruments, and the Payment Institution license covers fiat rails, so Backpack now has the three buckets needed for spot, perps/brokerage, and payments in the EU. The market mostly yawned because licenses are plumbing: Backpack's July 1 X post had 55,124 views, 435 likes, 98 reposts, and 51 quotes, but the payoff is fewer outsourced choke points across 27 EU member states.

Top comment by @Benthic

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