This culture of collaboration has allowed London to become the blockchain UK capital, as well as one of the global hotspots for realising the potential of crypto and blockchain technology.
Here are five reasons why London excels in blockchain:
1. Regulators that think ahead
The UK’s Financial Conduct Authority (FCA) leads the way in the development of the regulation of blockchain business and applications. Its work has been described as “the gold standard” by Christopher Giancarlo, chairman of the US Commodity Futures Trading Commission.[1]
In 2024, the FCA held discussions with more than 100 industry players, with a view to shaping a “sustainable, robust, and trusted” marketplace that will promote long-term investment and innovation in the UK.[2]
2. A buzzing London blockchain ecosystem
For technologies like digital assets, crypto and blockchain, London is in a unique position to lead and innovate.
Blockchain and crypto in London are thriving, with 319 crypto and 756 blockchain firms. Some of the industry’s leading names have chosen to open an office in London, including companies such as Coinbase and Ripple. [3]
3. Cutting-edge research
London's universities are at the forefront of research in the UK blockchain space. University College London (UCL) is a partner in Ripple’s prestigious $50m University Blockchain Research Initiative (UBRI)[4], supporting and accelerating academic research and innovation in blockchain, cryptocurrency and digital payments.
UCL also has its own blockchain and decentralised finance (DeFi) lab, which is committed to “unravelling the potential of blockchain and DeFi”. Blockchain companies in London can benefit from their proximity to these institutions and their game changing research.
4. Deep talent pool
London is home to more programmers and software developers than any other European city. There are more than 466,000 workers across the capital, ahead of Paris, Madrid and Berlin, providing a deep well of talent for blockchain companies in London. With a 16% share of international blockchain job openings, London tops the list among international metropolitan areas.[5]
5. Investment hub
Realising the city’s potential for Web3, in 2023 venture capital firm Andreesen Horowitz (a16z) chose London for its first ever international office. In 2024, a16z is also launching a Crypto Startup School for early-stage companies working in crypto and digital assets, further contributing to developing the city’s top talent in the sector.[6]
Investment into the UK as a whole continues to be very healthy, with $12.4bn in VC funding in 2024, twice that of Germany, its nearest rival. London companies alone raised $8.7bn.[7]
Given the multicultural nature of this city, the language, the timezone and the atmosphere here, it is a no-brainer that London is where you should set up a blockchain business.Qadre
How we can help
London & Partners offers free advice to potential and existing overseas investors, from startups to established companies.We can help you:
- Stay informed and access the latest developments, initiatives and incentives.
- Connect with the wider ecosystem, including support networks and trade associations.
- Future-proof the setup of your London business.
