Full-Time
Systems Engineer
Rust
Backpack Exchange
51-200 employees
Global crypto exchange and xNFT-enabled wallet
No salary listed
Chicago, IL, USA + 1 more
More locations: Dubai - United Arab Emirates
Remote
Visa sponsorship available for Chicago, Dubai, and Tokyo offices. Remote work is available for the right candidate.
 Software Engineering (1) |
|---|
- At least 3+ years of experience writing production-level Rust
- Deep understanding of systems programming (memory management, concurrency, networking)
- Experience building high-performance services and tooling from scratch
- Obsessive about code quality, performance, and security
- Very fluent in English
- Own critical components of Backpack’s backend infrastructure written in Rust
- Design and implement low-level systems with an emphasis on safety and performance
- Collaborate closely with product, infra, and security teams to build robust and reliable systems
- Proactively identify bottlenecks, security issues, and performance improvements
- None
Backpack Exchange runs a global crypto platform with a regulated exchange, a self-custodial multi-chain wallet, and a Solana-based NFT ecosystem. The exchange earns trading fees on spot and futures, while the Wallet supports xNFTs—executable NFTs that run apps inside the wallet. It differentiates itself through a Dubai VARA license, transparent custody using zk-proofs and MPC, and deep ties to the Solana ecosystem and Anchor framework. Its goal is to provide a compliant, transparent platform for trading, custody, and in-wallet executable applications across multiple blockchains.
Company Size
51-200
Company Stage
Series A
Total Funding
$17M
Headquarters
San Bernardino, California
Founded
2021
Simplify's Take
What believers are saying
- Backpack EU acquired FTX EU assets, recovering frozen user funds and accessing regulated infrastructure.
- BP token launch with 25% user allocation and gradual post-IPO release aligns incentives without founder dilution.
- On-chain IPO allocations via Superstate partnership democratize retail access to pre-listing shares historically restricted to institutions.
What critics are saying
- CySEC can revoke MiFID II license if compliance lapses, eliminating Backpack's only regulated EU derivatives platform.
- BP equity conversion plan faces SEC enforcement risk if deemed unregistered securities offering.
- Solana network outage or regulatory action disables wallet, exchange, and Mad Lads NFT simultaneously.
What makes Backpack Exchange unique
- Regulated EU derivatives via MiFID II license; only compliant perpetual futures platform across Europe.
- BP token enables equity conversion for long-term stakers, linking crypto holdings to company IPO.
- Cross-margined prediction market unifies spot, futures, and betting within single account for capital efficiency.
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Benefits
Flexible Work Hours
Hybrid Work Options
Stock Options
Company Equity
Growth & Insights and Company News
6 month growth
↑ 3%1 year growth
↑ 0%2 year growth
↑ 16%Backpack Exchange has launched its BP token on the Solana blockchain, with 25% of the one billion token supply allocated to users through its points programme and Mad Lads NFT collection. Founders and early investors were excluded from the initial distribution. The exchange, founded by former FTX and Alameda Research employees, plans to release remaining tokens in phases tied to company milestones, with a portion reserved for post-IPO release. A distinctive feature allows long-term token stakers to potentially convert their BP tokens into company equity shares, linking the token's value to Backpack's public market ambitions. The company recently acquired and relaunched FTX's European operations as Backpack EU, demonstrating its focus on regulated markets and compliance.
Backpack launches BP staking with rewards and utility access. March 23, 2026 * Backpack has launched its BP token staking and claim platform, offering flexible unstaking in the first seven days followed by a fixed waiting period. * Staking unlocks multiple benefits including lower trading fees, wire transfer discounts, extra USD yield, and access to future features like IPO participation. * The token model avoids insider allocations, with supply released gradually based on platform growth, aligning user incentives with long-term development Crypto exchange Backpack has launched its crypto claiming and staking platform, as it expands services for users in Europe. The rollout introduces staking functionality for BP tokens, with many incentives linked to participation and holding duration. According to official communication from the platform, users can now access the staking page and claim their allocated BP tokens. Backpack launches staking platform. The launch also outlines flexible unstaking conditions during the initial phase. For the first seven days, users are allowed to unstake their tokens at any time. After this window closes, a standard seven-day waiting period will apply to all unstaking requests. Stake more, unlock better utility. Staking page is now live: https://t.co/E5uhXeRzyp pic.twitter.com/DlC4VCZKPB - Backpack | (@Backpack) March 23, 2026 The structure of the product aims to encourage early participation as it slowly shifts toward a more stable staking environment. In the short term, flexibility for users remains high. Over time, however, the system begins to reward longer commitments. Backpack has linked staking directly to a series of platform benefits. Users who stake BP tokens will gain access to reduced trading fees, with different tiers unlocking based on the amount staked. This model mirrors approaches seen across other exchanges, where deeper engagement means lower costs for active traders. Along with fee cuts, the platform is also offering discounts on wire transfers. These incentives are to provide support for people who move money from traditional financial systems to crypto markets. This would lower the friction, in practice, for those who rely heavily on on- and off-ramp services. Equity conversion is another feature associated with staking. BP token holders who own and stake BP tokens may be able to convert cryptos to equity in the company. While timing and eligibility information remains limited, the inclusion of such a feature is the latest move to try to make sure that a user's level of involvement will be proportional to the platform's long-term growth. The staking model brings another yield element to bear. In addition to prevailing interest rates, users can earn an additional yield of up to 3% on their USD collateral. This creates an additional incentive for those already active in lending markets within the platform. Backpack has also outlined a roadmap of upcoming features connected to staking. These include early access to a planned Backpack Card, reduced fees on future prediction market products, and participation in initial public offering subscriptions before they reach open markets. Wallet-related benefits are also expected, aimed at improving the experience for users managing self-custodied assets. As per the tokenomics, the total supply is planned for product development, regulatory progress, and market milestones. At the token generation event, 25% of the total supply was released. This portion was distributed primarily to points holders and holders of the Mad Lads NFT collection. A further 37.5% is categorized under pre-IPO allocation, which is being unlocked gradually as the platform achieves specific growth targets. These tokens are directed toward users rather than internal stakeholders. The remaining 37.5% is reserved for post-IPO distribution and is currently locked. This portion is held in a corporate treasury and will remain inaccessible until at least one year after a potential public listing. The absence of a separate team allocation is a notable feature, as it ties the team's incentives to the company reaching an IPO milestone. Disclaimer: This article is intended solely for informational purposes and does not represent financial, investment, legal, tax, or other professional advice. The opinions and views expressed are those of the author(s) and do not necessarily represent the position of cryptonewsz.com. Cryptocurrency investments and trading entail high risks, including possible loss of some or all of your investment, and prices may be influenced by external events like financial, regulatory, or political events. Past performance cannot be used to determine future results. Readers are strongly advised to do their own research and consult with an expert financial advisor prior to making any investment. cryptonewsz.com takes no responsibility for loss or damages sustained as a direct result of material contained in, or information, published through, this website. Explore our Terms and Conditions and Privacy Policy for more information. Ritu Lavania is a versatile Web3 content creator with over three years of experience in the crypto space. She is part of the team at CryptoNewsZ, where she writes insightful and engaging content. She has also contributed to TheCryptoTimes and The Coin Edition, where her work has been well received by the crypto community. Skilled in research, creative writing, SEO, and cross-functional collaboration, she creates content tailored to diverse audiences. Passionate about education, she dedicates time to teaching kids and expressing herself through poetry. Always eager to learn, she continuously explores new trends in blockchain and digital assets. She believes in the power of storytelling to make complex crypto topics more accessible and engaging for readers worldwide.
BackPack Wallet: BP token debuts on Orca's DEX, opens new crypto trading possibilities with DeFi multi-chain access. The BackPack Wallet, a self-custodial crypto wallet, today announced a strategic partnership with Orca, a user-friendly DEX platform built on Solana. With this collaboration, the BackPack Wallet leverages Orca's DEX (decentralized exchange) infrastructure to provide a powerful combination of flexible, decentralized trading with cross-chain interoperability to advance user accessibility of its native crypto asset (BP). BackPack is a recognized multi-chain wallet and cryptocurrency exchange that offers a self-custody solution. The innovative platform combines a wallet, centralized exchange, and application ecosystem within a unified, secure, user-friendly environment for seamless trading, managing, and holding various crypto assets. Today, BackPack made a significant development in its crypto ecosystem by officially launching its native cryptocurrency (BP), marking a crucial achievement as it targets global adoption. According to the announcement shared today on the X social media, BackPack positions the BP token as an accelerator to user on-chain economic participation, aiming to unlock new global utilities on its crypto ecosystem. NEW Pool: BP is live on Orca | @Backpack's native token for their all-in-one crypto app, is now on Solana.Allocate capital and deepen liquidity for more efficient swaps from day one. pic.twitter.com/JJSxMK4aBJ BackPack Wallet Integrates Orca To Drive Liquidity In the landscape of crypto finance, convenience and innovation are essential components sought by investors and traders. Today, the BackPack Wallet listed its native cryptocurrency (BP) on Orca's DEX, introducing trading pairs that bring more opportunities and advantages for crypto investors. With the move, Backpack launched several strategic partnerships with various crypto platforms to improve the customer experience. BP, the native token of Backpack, not only possesses trading value but also serves several financial functions within the BackPack ecosystem. Today, BP launches on Orca's DEX, marking an important milestone and offering traders more opportunities. Orca is a DEX platform and automated market maker that runs on top of the Solana blockchain, designed to make DeFi accessible through seamless swaps and liquidity provision. The platform is known for efficient trades and low fees. The debut of the BP token on the DEX further advances the new cryptocurrency's market accessibility, offering people worldwide a more efficient approach to purchasing and trading BP tokens. This integration will substantially improve BP's market position, enabling more people to participate in the BackPack ecosystem. Building Cross-Chain Utility In DeFi The partnership between BackPack and Orca paves the way for new decentralized applications on their cross-chain networks by combining customer-friendly DeFi functionalities with secure digital asset management features. The BP token's launch and its listing on multiple crypto networks today catapults Backpack's ecosystem deeper into its vision to become crypto's liquidity hub. Today, the BP token was integrated on multiple crypto platforms, including Solana, PancakeSwap, Birdeye, and Orca. No one has commented yet
ON THE MOVE: Kathryn Zhao joins OKX; brandon Peoples to Jefferies. March 9, 2026 Kathryn Zhao has been appointed as the Global Head of International API Product and the Head of U.S. Product as OKX, she shared with Traders Magazine. Her team is responsible for product development and delivery for global institutional API clients as well as a focus on U.S. clients as she is based in New York. She joined OKX in January 2026 from Cantor Fitzgerald where she was the Global Head of Electronic Trading. She successfully rolled out the algorithmic trading suite (the Precision Algo Platform) cross asset classes, including equity, foreign exchange, fixed income, and cryptocurrencies. Prior to that she worked for JPMorgan where she was the Global Head of Algorithmic Quantitative Research. Brandon Peoples has been named global head of outsourced trading at Jefferies, based in New York, Global Trading reported. Dean Gray, head of international outsourced trading at the firm, and Joram Siegel, head of global fixed income outsourced trading, discussed expansion plans for the business with Global Trading last year. Peoples has more than 25 years of industry experience and has been global head of outsourced trading at Cantor Fitzgerald since 2019. Prior to this, he was head of domestic trading and operations at EastBay Capital and a senior TMT trader at Diamondback Capital. Mark Wetjen has joined Backpack US as President, the crypto exchange announced. He previously served as CFTC Commissioner & Acting Chairman and Head of Global Public Policy at DTCC, and was among the first U.S. regulators to advocate for clear regulatory frameworks and market infrastructure for crypto. He will lead Backpack's U.S. expansion as Traders Magazine continue building regulated, onchain financial infrastructure bridging crypto and traditional finance. Richard Worrell has left LSEG after two years as co-head of equity trading and head of business development at the exchange, Global Trading reported. Worrell has almost 30 years of industry experience and was head of EMEA equity trading at Janus Henderson Investors before joining LSEG. Earlier in his career, he was an equity sales trader at Redburn and SEB. Broadridge Financial Solutions has appointed Allen Weinberg as Chief Growth and Strategy Officer, according to a press release. Weinberg joins Broadridge from McKinsey & Company, where he served as a Senior Partner. As a leader in digital, AI, and analytics practices, he led McKinsey's North American Banking Tech and Ops Practice, working at the intersection of business and technology in industries where technology is the product. Previously, Allen served as the leader of McKinsey's Outsourcing and Offshoring practice. Commodity Futures Trading Commission Chairman Michael S. Selig has announced Mel Gunewardena as director of the Office of International Affairs and Senior Markets Advisor to the Chairman. Gunewardena brings extensive expertise in global financial markets and international regulatory affairs, developed through a distinguished career as a managing director in the Global Markets Trading Divisions at three G-SIBs - Goldman Sachs, Deutsche Bank, and State Street. He held various global leadership roles in trading, prime brokerage, and derivatives, overseeing risk businesses in North America, Europe, and Asia. More recently, he served as chief market intelligence officer at the CFTC from 2019 to 2022, and subsequently as senior advisor for global markets to the chief executive of the UK Financial Conduct Authority. If you have a new job or promotion to report, let me know at [email protected]
Solana-based exchange Backpack is now offering retail investors direct access to IPO share allocations on-chain, bypassing traditional brokerages through infrastructure partner Superstate. The IPO allocations represent real shares with direct ownership, marking the platform's first token utility rollout planned for 2026. CEO Armani Ferrante emphasised that Backpack's compliance-first model legally enables this product, positioning the platform as a stop on company IPO roadshows historically restricted to institutional buyers. Early waitlist signups receive priority access to available IPOs. The move expands retail access to pre-listing allocations previously reserved for institutional investors. Backpack's regulated status, including its European licence acquired through FTX EU's assets, positions it ahead of non-compliant competitors in the growing tokenised real-world assets sector.