TLDR;
- Wise will shift its primary stock market listing to the U.S. while retaining a secondary listing in London.
- The move is driven by ambitions to tap into larger investor pools and better liquidity in the U.S. market.
- The decision follows a pattern of UK tech firms moving away from London to New York for growth advantages.
- Wise reported strong financial results, with rising revenues, profits, and a growing customer base fueling expansion plans.
Wise, the London-founded fintech giant valued at £12 billion, has announced it will move its primary stock listing from the London Stock Exchange to the United States.
The company plans to maintain a dual listing in London, but the shift signals a major strategic pivot focused on growth in the U.S. market and access to deeper capital pools. This move delivers another setback to London’s ambitions to remain a global hub for technology firms, particularly fintechs.
London’s Lose Another Tech Giant
Since its market debut in 2021, Wise has been seen as a flagship tech listing for the UK. Its original valuation of nearly £9 billion made it one of the country’s largest tech floats in recent years. However, despite its strong British roots and a significant UK employee base, Wise’s decision reflects broader challenges facing the London Stock Exchange.
Over recent years, a number of companies, including other fintechs and technology innovators, have shifted their primary listings to New York in pursuit of better liquidity, higher valuations, and greater investor demand.
Wise’s CEO, Kristo Käärmann, explained that the move aims to increase the company’s profile in the U.S., which represents the largest market opportunity for Wise’s products today.
“This includes helping us drive greater awareness of Wise in the US, the biggest market opportunity in the world for our products today, and enabling better access to the world’s deepest and most liquid capital market.” He said.
The U.S. stock market offers access to the world’s most liquid and substantial capital market, which the company sees as critical to its next phase of growth. At the same time, Wise reaffirmed its commitment to the UK by keeping a secondary listing and continuing investment in local talent and infrastructure.
Wise just announced that it will be moving its primary listing from the London Stock Exchange to the US.
The money transfer app has increased active customers from 2.6M to 9.3M in just over 5 years.$WISE pic.twitter.com/MTuNbPqTuH
— FinChat (@finchat_io) June 5, 2025
A Strategic Bet on the US Market
The planned dual listing is intended to open new pathways for Wise, including eligibility for inclusion in major U.S. stock indices. Being part of these indices could significantly boost demand and liquidity for Wise shares. Investors will be invited to vote on the proposal in the coming weeks.
Analysts suggest this move may close the door on Wise joining Britain’s FTSE 100 index, which requires a primary listing in the UK, but the trade-off in access to larger capital pools and investor bases may outweigh this drawback.
This decision follows similar actions by other major firms like the drugmaker Indivior and chip designer Arm Holdings, both of which chose to prioritize New York listings over London. The shift also highlights the ongoing difficulties faced by the London Stock Exchange in retaining and attracting fast-growing tech companies amid rising competition from U.S. exchanges.
Robust Financial Performance
Wise’s announcement came alongside strong financial results for its 2025 fiscal year. The company reported a 15 percent increase in revenue to £1.2 billion and a 17 percent rise in pre-tax profit to nearly £565 million. Its customer base grew by 21 percent, reaching over 15 million users worldwide, driven by increasing adoption of its cross-border money transfer services. These figures underline Wise’s rapid expansion and reinforce the rationale for targeting the U.S. market’s vast opportunity, estimated at around £32 trillion in money transfers annually.
The fintech also unveiled ambitious plans to invest approximately £2 billion over the next two years to enhance its infrastructure, marketing efforts, and product offerings. The company aims to capitalize on its new payments infrastructure, which it claims is faster, cheaper, and more reliable than traditional networks, positioning itself as a global leader in cross-border financial services.
