London-based FinTech Wise has announced its plans to dual list its shares in the US and UK.
The move would see the global giant transfer its primary listing across the Atlantic in a major blow to the London Stock Exchange.
With Wise making the US the home of its primary listing, that stock exchange will have primary regulatory oversight of the company.
It will become the firm’s main officially recognised exchange, where it fulfills most regulatory obligations, despite it still being listed in London.
The company released the news in its results for the financial year ended 31st March, which also contained the fact that it had made £1.2bn in revenue for the year – a 15 per cent YoY increase.
Its pre-tax profit also rose 17 per cent to £565m, as basic earnings per share shot up 18 per cent to 40.37p.
Wise also facilitated a whopping £145.2bn worth of international money transfers.
“Our growth over the past financial year is a testament to the team’s laser focus on our vision to build money without borders,” said Kristo Käärmann, co-founder and CEO of Wise.
“We moved £145.2bn across borders for 15.6m people and businesses, a 23 per cent increase compared to last year. This growth has been generated by the investments we’ve made in our underlying infrastructure, delivering lower fees and faster speeds for our customers.
“We will accelerate our investments to improve the customer experience and to increase our share of the huge c.£32 trillion market opportunity.
“As part of our next step on that journey, today we are announcing our intention to dual list our shares in the US and UK. We believe the addition of a primary US listing would help us accelerate our mission and bring substantial strategic and capital market benefits to Wise and our owners.
“These include 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.
“A dual listing would also enable us to continue serving our UK-based Owners effectively, as part of our ongoing commitment to the UK. The UK is home to some of the best talent in the world in financial services and technology, and we will continue to invest in our presence here to fuel our UK and global growth.”
Despite the FinTech’s ambition for a primary listing in the US, it has reiterated that it still has a major focus on the UK market, saying its confidence in UK talent and the tech ecosystem remains ‘undimmed’.
One-fifth of the company’s employees are based in the UK and it still has plans to continue hiring and investing in its UK team to fuel growth in the UK and abroad.
Emmanuel Thomassin, CFO of Wise, added: “The opportunity for Wise remains substantial, with many millions of people and small businesses moving trillions of pounds across borders while overpaying for a poor service.
“We fundamentally believe that the market leader over time will be the provider of the cheapest, fastest and most convenient service, with the broadest coverage.
“We remain focused on unlocking this opportunity and will continue to invest in our long-term growth potential, building a business with world-class fundamentals and the potential to scale volumes from billions to trillions, and generating exceptional value for both the customers and owners of Wise.”
Wise currently has a market cap of £11.57bn.
Its share price has increased significantly in the past 12 months, rising from 833.5p on 5th June 2024 to 1,131p on 5th June 2025.
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