Backpack EU, the European arm of the Solana-native crypto exchange, has obtained both a Crypto-Asset Service Provider (CASP) license and a Payment Institution license under the Markets in Crypto-Assets (MiCA) framework. The licenses were granted by Latvijas Banka, Latvia’s central bank, on May 27, 2026.
The platform’s native token, BP, responded with an 18.7% price jump.
Why the rush matters
MiCA’s full enforcement deadline lands on July 1, 2026. After that date, any crypto firm operating in the EU without proper authorization is essentially operating on borrowed time, or not at all.
Only about 210 out of over 1,200 firms that held prior national registrations have successfully transitioned to full MiCA authorization. That’s roughly 17%.
