Peter Thiel-backed cryptocurrency platform Bitpanda has ruled out the possibility of listing in London due to insufficient liquidity in stock trading, according to co-founder Erik Demut.

Another factor contributing to Bitpanda's decision to avoid a UK listing is the company's recent entry into the British market, with the majority of its revenue still generated from European operations.

The company is considering potential listings in Frankfurt or New York, though no final decision has been made regarding the specific location or timing of a public offering.