As the crypto IPO wave hits Wall Street, I’m breaking down why Backpack stands out—not just as another exchange, but as a true Web3-native platform with real compliance muscle. With its xNFT-powered wallet, seamless fiat on-ramp, and a community-driven culture, Backpack is building the kind of infrastructure that traditional finance actually understands. If Circle was the gateway to crypto’s mainstream debut, Backpack might be the blueprint for its next phase.