Bitpanda refuse Londres pour son IPO
Bitpanda is steering clear of London for its IPO. The crypto exchange platform, backed by billionaires Peter Thiel and Alan Howard, has confirmed that it has no plans to go public in the United Kingdom. The reason being, the London Stock Exchange is no longer attracting enough liquidity and is witnessing a mass exodus. Even local fintech companies, like Wise, are now opting for New York to attract investors.
The trend is crystal clear: London is experiencing a drought in terms of IPOs, with the first half of 2025 hitting a record low in thirty years. Despite political and regulatory reforms, the British capital is losing its status as a global financial hub.
Bitpanda wants to go big
“It won’t be London,” asserts Eric Demuth, co-founder of Bitpanda. The platform is now eyeing two targets: Frankfurt, the heart of European finance, or New York, the epicenter of global markets. The decision has not been finalized yet, but the message is clear: Bitpanda’s future lies in markets capable of generating volume and visibility.
Established in 2014, Bitpanda has established itself as one of the leading players in European crypto. Valued at $4.1 billion in 2021, the group generated 393 million euros in revenue in 2024. The platform made a notable entry into the UK this summer, with over 600 tokens listed and a sponsorship partnership with Arsenal.
New York, the new crypto paradise
The timing is no coincidence. Since Donald Trump’s return to the White House, the United States has been rolling out the red carpet for the crypto industry. Accommodating regulators, buried lawsuits, official meetings with sector leaders: the dynamics have completely shifted from years of distrust. As a result, Nasdaq and NYSE are witnessing a surge in projects.
Figure Technology, Gemini, BitGo… and even Bullish, another exchange backed by Peter Thiel, have all taken the plunge in 2025. The message is clear: Wall Street has become the place where crypto companies feel at home.
Frankfurt in the wings
While New York is in the spotlight, Frankfurt is not out of the game. The German city benefits from a market geographically closer and a regulatory framework aligned with post-MiCA Europe. For Bitpanda, which derives most of its revenue from the continent, the German option would have the advantage of consolidating its European foothold while benefiting from the depth of the German market.
A symbol for Europe
The final choice of Bitpanda will go beyond just an IPO. It will speak volumes about the ability of Europe to retain its crypto champions in the face of American allure. If Frankfurt emerges victorious, it will be a strong signal for the European ecosystem. If New York once again comes out on top, it will confirm the American dominance in financial markets… and the future of crypto.
