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Brussels has proposed extending EU banks’ access to UK derivatives clearing houses for another three years in a victory for the City of London.

The European Commission on Wednesday announced it had tabled a new so-called “equivalence decision”, which would allow banks and other financial institutions in the bloc to use some of the world’s most critical market utilities in London until June 2028.

EU politicians have sought to capture the lucrative euro-denominated clearing industry since the Brexit vote in 2016 but have accepted its financial system still depends on the UK, which dominates the global business of derivatives clearing.

Clearing houses reduce market risk by standing between two parties in a trade.

London frequently handles deals nominally worth around $3.5tn a day. It is a global centre for trading interest rate derivatives and Brent crude oil, with clearing of deals handled at London Stock Exchange Group’s LCH and at Intercontinental Exchange.

European derivatives traders had lobbied hard to extend the City’s permit, which expires on June 30 after three years. Member states have five days to object to the commission’s proposal to let it run until June 2028, but such opposition was highly unlikely, officials said.

The commission said UK-based clearing houses were vital to its plans to build a single market in savings and investments.

“Two [clearing houses in the] UK have been identified by the European Securities and Markets Authority as systematically important for the EU’s financial stability,” said Olof Gill, spokesman for financial services, referring to LCH and ICE.

“An extension of the equivalence decision is therefore needed to avoid any risks to our financial stability in the short term, and give certainty and clarity to EU financial market participants,” he added.

But he added that Brussels was committed to building up a rival industry. Last year it approved an updated European Market Infrastructure Regulation that will oblige EU banks to hold “active accounts” at EU-based clearing houses for some products, and if users cross minimum thresholds in others.

The regulation “contains measures that will improve the attractiveness and competitiveness of EU clearing markets. This will help reduce in the medium term the EU’s overreliance on UK clearing houses,” said Gill.

Pascal Kerneis, of the European Services Forum, which represents services companies trading internationally, welcomed the move.

“It will give a clearer perspective to operators in the EU financial market in the medium term.

“This will also give a good political signal for a proper ‘reset’ of the EU-UK relationship,” he said.

The two sides have begun talks to improve trade ties. UK chancellor Rachel Reeves met her EU counterparts in December and called for them to drop barriers to City firms. She said they could boost EU growth by funnelling international investment to the bloc.

Clearing is the only part of financial services that has been granted equivalence since Brexit.

Crypto is making such a big comeback that AngelList and CoinList are launching a way to help raise capital for crypto-specific founders using crypto coins.

They are teaming up to launch Crypto special purpose vehicles  (SPVs) and Crypto roll-up vehicles (RUVs), the companies shared with TechCrunch exclusively on Wednesday.

The partnership, they said, will give users a way “to raise with syndicates and manage crypto startup investments the crypto way.” Syndicates are a group of companies or individuals that work together to jointly manage a large financial transaction.

AngelList said the users will be able to fund Crypto SPVs (Special Purpose Vehicles) in stablecoins – currently for a $0 fee. 

“Investors can fund with USDC, which is easier for crypto investors who don’t operate via banks,” said CoinList CEO Raghav Gulati. USDC is the term for a digital dollar, also known as a stablecoin, that can be redeemed 1:1 for US dollars as it is pegged to the dollar.

Tokens can be distributed in kind to LPs and are compatible with “many non-US token issuers and investors.” An integration with CoinList’s software is “coming soon,” the companies said.

“The model is significant because investors receive tokens once they are available, instead of receiving cash returns, which is aligned with the crypto ethos of stakeholder participation and self-ownership of assets,” Gulati told TechCrunch.

The Crypto Roll-Up Vehicles are designed to collect investments that a founder has raised for a particular round. The advantage, the companies said, is that startups don’t have to worry about “managing compliance for many stakeholders” at an early stage.

“Crypto startups often seek to bring on many angel investors. With RUVs, dozens of angels who need to sign paperwork, send money, and get proper reporting on an ongoing basis can do so with AngelList Crypto RUVs,” Gulati said.

Crypto’s acceptance in the mainstream investor world where AngelList belongs, wavered during crypto winter. That’s when all things Web3 fell out of favor and industry bigwigs like Sam Bankman-Fried and Binance founder Changpeng Zhao were sentenced to jail.

But between bitcoin hitting record highs and the Trump administration’s clear interest in it, crypto is poised to come back in vogue in broader tech circles.

Analyzing three altcoins with the potential to turn $600 to $10,000, with Rexas Finance leading the way.

Investors seek high-growth altcoins as the crypto market heats up. Three coins stand out for their potential: Rexas Finance (RXS), Cardano (ADA), and Fartcoin (FARTCOIN). Crypto watchers suggest these under $10 coins can turn $600 to $10,000 like XRP and Dogecoin.

Rexas Finance

The trending blockchain platform Rexas Finance looks to simplify real-world asset (RWA) tokenization. 

Rexas Finance will tokenize real estate, art, and commodities for digital trading. This will allow fractional ownership and increase liquidity in illiquid markets, opening up opportunities to more investors.

Rexas Finance has achieved remarkable success in its presale. The project has raised $41.5 million, with over 427 million RXS tokens sold across all presale phases. RXS holders recently voted for a further presale stage, advancing the initiative to Stage 12. This decision is consistent with the project’s growing momentum and increased community support. 

Offered at $0.20, the additional stage also helps the platform maintain competitive token pricing, allowing early investors to optimize their earnings. 

Another attractive element of Rexas Finance’s utility network is its platform’s tools, such as the Rexas Token Builder, which will make token production simple even for non-technical users. The Rexas QuickMint Bot will enable instant token creation directly on chat platforms. These features reduce the barriers to entry for users in the digital asset market, creating new opportunities for enterprises and individuals alike. Rexas Finance will also include complex AI technologies, such as Rexas GenAI, which will allow for the easy production of unique NFTs.

Rexas Finance has gained further attention for its ongoing $1 million giveaway, in which the top 20 entrants will each receive $50,000 worth of RXS. This offer gives participants chances for considerable value and serves as a tool for raising platform awareness and adoption rates. 

After the presale and all stages are finished, RXS plans to debut on at least three of the top ten global cryptocurrency exchanges. The official listing is set for June 19, 2025, at $0.25 per RXS. Analysts foresee a huge price increase that might result in over 100x gain for early investors.

Cardano

Cardano’s recent 15% surge has rekindled interest. Its market cap is $34.79 billion, and its price is $0.98. 

Proof-of-stake consensus and formal verification have distinguished Cardano from other platforms. The blockchain also contains multiple DeFi applications and is undergoing considerable modifications to boost adoption. 

Technical indicators suggest Cardano could surpass $2 in 2025. With its double-bottom base pattern, renowned traders like Peter Brandt are optimistic about ADA’s rally.

Fartcoin

Fartcoin has surged over 50% in the past week. The coin was conceived from the Truth Terminal AI trend. It benefits from the popularity of AI meme coins, which have grown significantly in recent weeks. 

Currently trading at $1.80, the coin recently hit a new all-time high of $2.61. While Fartcoin is speculative and lacks the technical infrastructure of Cardano, it has potential in the meme coin market. 

With President Trump launching his own meme coin, this niche might thrive, putting FARTCOIN among coins under $10 to watch in 2025.

Conclusion

As the cryptocurrency market heats up, Rexas Finance, Cardano, and Fartcoin offer investors unique opportunities. With its asset tokenization method, successful presale, and impending exchange listings, Rexas Finance could lead the way. Cardano is strong among smart contract platforms while Fartcoin capitalizes on meme coins.

For more information about Rexas Finance, visit their website, giveaway, X or Telegram.