[SilverBirch]

Two things: first they’re a bank, in the Uk, it looks terrible to not have a banking license and that’d kill their IPO price. Second, there are limitations on customer deposits and the services they can provide because they aren’t a bank, for example they aren’t currently Uk equivalent of FDIC insured. There’s basically an assumption that their banking license will massively help both their growth and their value per customer.

[ztrww]

But they do have a license in Lithuania which means all the deposits are covered by their insurance. I agree about the IPO part but I really find it hard to imagine an IPO would make any sense for them at this point. I don’t think there is any chance they could reach their current private valuation…