Revolut CEO Rejects IPO in London Due to High Costs and Low Liquidity Compared to the U.S.

ChainCatcher news, fintech giant Revolut CEO Nikolay Storonsky has dismissed the idea of the company listing on the London Stock Exchange, calling it 'irrational' compared to the U.S. market.

Nikolay Storonsky criticized the UK's 0.5% stamp duty on stock trading and emphasized that limited liquidity is a major drawback for the company considering an IPO in London. Nikolay Storonsky stated: 'The liquidity in the UK is poor, making it much worse compared to the U.S., and on top of that, due to the stamp duty, the costs are much higher. It's just unreasonable.'

He pointed out that unless the UK can provide a more competitive environment, the U.S. market remains a reasonable choice for Revolut's potential listing.