Revolut CEO refuses to conduct an IPO in London due to higher costs and lower liquidity compared to the US

ChainCatcher news, financial technology giant Revolut's CEO Nikolay Storonsky has denied the idea of the company going public 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, so it is much worse compared to the U.S., and also, due to the stamp duty, the costs are much higher. This is 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.