Is London Losing Ground?

🏠 Bitpanda Chooses Frankfurt and New York Over the British Capital

Austrian crypto exchange Bitpanda has abandoned plans to list on the London Stock Exchange, considering it too illiquid to attract serious capital. The company is now looking at Frankfurt or New York instead — another sign that London is gradually losing its status as a leading global financial hub.

Bitpanda co-founder Eric Demuth told the Financial Times bluntly: “It definitely won’t be in London.” According to him, the UK exchange is going through a tough period, with no improvements expected in the coming years.

Others share this view. For example, fintech company Wise and a number of UK-based firms have already shifted their listings abroad in pursuit of greater liquidity and investor access.

30-Year Low

Statistics confirm this: the amount of capital raised through IPOs in London during the first half of the year has plunged to the lowest level in 30 years. Experts say this is not just a temporary downturn but a systemic crisis undermining the UK’s competitiveness in global markets.

Regulatory uncertainty only adds to the problem. Analysts at the OMFIF institute note that the country has lost its first-mover advantage in decentralized finance. Meanwhile, Coinbase recently released a satirical video showing Britain’s collapsing infrastructure and poverty under the cheerful soundtrack of “everything is fine” (see on X).

America and Germany Take the Lead

Against this backdrop, the US and continental Europe continue to strengthen their positions. In August, the Winklevoss twins’ exchange Gemini filed for a Nasdaq listing, joined by Figure, BitGo and Bullish — all projects that chose New York over London.

At the same time, Germany is gaining traction as a European hub for crypto firms thanks to clearer regulation and deeper markets.

Interestingly, Bitpanda itself recently expanded its UK presence by launching trading in more than 600 digital assets and signing a sponsorship deal with Arsenal Football Club. But trading and raising capital are two different things: the investment hubs are now in Europe and America, not London.

“The UK is experiencing a prolonged IPO ‘drought’: the amount of capital raised from initial public offerings in the first half of this year fell to a 30-year low. Concerns are mounting over London’s status as a global financial center. Politicians and regulators are trying to revive the capital market through a series of reforms in recent years,” the Financial Times wrote.

🎯 Bottom line

Bitpanda’s decision is not an isolated case but a sign of a global trend. Crypto and fintech are moving to where the capital markets are deeper and the rules are clearer. The UK risks losing its place in the race for global financial center status.