Overview
- Backpack US confirmed on Tuesday that Michael S. Piwowar has joined its board to strengthen the company’s Washington-facing governance as it pushes into U.S. markets.
- The company is promoting a newly launched stock trading platform that supports traditional and tokenized equities as part of its U.S. expansion plans announced earlier this month.
- Backpack says it will seek to offer regulated U.S. perpetual futures, citing a late-May CFTC approval that created a route to bring bitcoin perpetual contracts onshore.
- Piwowar served as an SEC commissioner from 2013 to 2018 and briefly as acting chair in 2017; he previously argued that bitcoin is not a security while the agency took a skeptical view of ICOs.
- Backpack has also outlined post-IPO token and treasury plans and an equity-linked staking model that would tie a large share of exchange token supply to corporate rewards, a move that could reshape how token holders share in company economics.