Bitpanda, a cryptocurrency exchange based in Vienna, has put its plans to list on London's public markets on hold. Why? It looks like the London Stock Exchange (LSE) is having some trouble with liquidity right now.
Eric Demuth, one of the co-founders of Bitpanda, told the Financial Times, "Yeah, we were looking at it, but London?" No, not really. Instead, they're looking at Frankfurt or New York for their first public appearance. But there isn't a set date yet.
Why London's LSE is on the Struggle Bus
Demuth said, "LSE is not doing too well right now in terms of liquidity." In other words, investors aren't exactly knocking down the door. He did say that he hopes things will get better, but spoiler alert: he won't be holding his breath for the next few years. The LSE looks a little slow.
Not only Bitpanda is leaving. The UK has been having trouble keeping its IPO game strong. Wise, the very popular British fintech, is already packing its bags and moving its main listing to another country. The UK's IPO market seems to be heading for a 30-year low. Oh no.
The UK's Problem with Crypto
And if that wasn't enough, let's talk about crypto. The UK hasn't been very good at crypto either. Some people think that the country wasted its "early mover" advantage in distributed ledger finance, which was basically a chance to become a global crypto leader. But no, that didn't work out.
Coinbase also really hurt the UK's economy last month, just to make things more interesting. They made a funny video that made fun of the UK's situation. It had happy music about "everything being fine" mixed with sad pictures of poverty, rising prices, and crumbling infrastructure. Wow, that's a harsh thing to say.
If everything is fine, then don’t change anything at all.
— Coinbase 🛡️ (@coinbase) July 31, 2025
But when the financial system isn’t working for so many people in the UK, it needs to be updated. pic.twitter.com/rL1EaKu12V
The Crypto Party Is in the US
In the meantime, the US is doing great and attracting all the crypto companies. Gemini, the Winklevoss twins' exchange, just filed to have its stock listed on the Nasdaq. Figure, BitGo, and Bullish (yes, backed by Peter Thiel) are also getting on the US listing train. The US is the cool kid at the crypto party.
But Bitpanda isn't all bad news. They just started in the UK, where users can trade more than 600 digital assets. They also have a sponsorship deal with Arsenal, which is a good way to add some football flair to the mix.
So, even though London isn't getting any love from the crypto community right now, there is a lot of drama, money, and excitement going on in other places. Stay tuned.
Richard Adrian
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