Backpack

Backpack is a cryptocurrency exchange and multi-chain wallet designed to redefine how users interact with digital assets. It offers a unique self-custody solution that leverages multiparty computation techniques, ensuring unparalleled security for users’ funds across various blockchains.

Series A Round: $17M

Strategic Round: $20M

Whitepaper

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Interest lvl

High

Updated: Mar 28, 2025

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User Rating

Medium

3/5 • 1 votes

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FoundedUnited States

Registration year2022

Ecosystems

Solana

What is Backpack

Behind the scenes, Backpack takes a page from blockchains – the distributed databases that house cryptocurrency transaction histories – to document its own history as an exchange “back to the beginning of time.” Every transfer and trade gets recorded on a system that is similar to a permissioned blockchain.

Basically, it is a foil against any attempt to cook the books. That kind of thing has only become more important for crypto exchanges amid the fallout of FTX’s magically disappearing customer deposits.

Before the venture funding arrived, Backpack had to make do with a very tight $1.4 million financial leash amassed through last April’s sale of the Mad Lads NFT, which has since become Solana’s top digital collectible.