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Bitpanda Ditches London IPO Plans Over Low Trading Activity

Key Takeaways

  • ​Bitpanda has decided not to pursue an IPO in London due to concerns about low trading volume on the LSE;
  • ​The company is considering Frankfurt or New York for a future listing, though no date has been set;
  • London IPO activity hit a 30-year low, and the UK faced criticism for losing momentum in crypto policy.

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Bitpanda Ditches London IPO Plans Over Low Trading Activity

Bitpanda has decided against a London listing due to concerns over limited trading volume on the London Stock Exchange (LSE).

Eric Demuth, one of the co-founders of the Austrian crypto platform, told the Financial Times that the company is exploring a public listing. However, London has been ruled out.

Instead, Bitpanda is looking at other possibilities, such as Frankfurt or New York. There is no set schedule for when the company might proceed.

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Demuth said the LSE’s trading volumes are not where they need to be for now. He added that while he hopes things improve in the future, he sees challenges ahead for London’s exchange over the next few years.

This hesitation comes at a time when other companies have also chosen to leave or avoid London’s stock market altogether. The UK has seen a decline in the number of companies going public.

According to data mentioned in the Financial Times, the first half of this year saw the lowest level of capital raised through London listings in the past three decades.

In addition to market performance, the UK has been criticized for its regulatory stance on crypto. In June, a report by the Official Monetary and Financial Institutions Forum (OMFIF) stated that the country missed its chance to lead in blockchain finance.

Recently, Figure Technology Solutions, a lending company built on blockchain, announced plans to launch an initial public offering (IPO) in the United States. What did the company say? Read the full story.

Aaron S. Editor-In-Chief
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.

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