TechFlow news, on December 16, according to DL News, Nikolay Storonsky, CEO of fintech giant Revolut, said in the 20VC podcast that listing on the London Stock Exchange is "unreasonable" compared to the U.S. market. He pointed out that the UK's 0.5% stamp duty on stock transactions and limited liquidity are major disadvantages. Storonsky added that if he were to start a company again today, he would choose to base it in the United States.
According to the Financial Times, in 2024, 88 companies have either delisted from or shifted their primary listing away from the London main market, marking the largest such exodus since the financial crisis. Valued at $45 billion, Revolut obtained a provisional UK banking license in June this year, and its cryptocurrency trading platform, Revolut X, has expanded from the UK to 30 European markets.
