Fintech Giant Wise to Shift Primary Stock Listing from London to U.S., Delivering Major Blow to UK Markets
London, June 5, 2025 – Wise, the London-based fintech leader in cross-border payments, has announced plans to transfer its primary stock listing from the London Stock Exchange (LSE) to a U.S. exchange, marking a significant setback for the UK’s financial sector. The company will maintain a secondary listing in London, but its main listing hub will shift to the United States, likely targeting the NASDAQ.
Wise’s move is driven by the deeper liquidity and broader investor base available in the U.S. capital markets. CEO and co-founder Kristo Käärmann stated that the transition would help accelerate Wise’s mission and bring substantial strategic and capital market benefits, noting that the U.S. is the company’s “biggest market opportunity in the world for our products”. The company believes that a primary U.S. listing will enhance its profile among potential customers and investors, particularly institutional and retail investors in the U.S. who currently face barriers to holding Wise shares.
Founded in 2011 as TransferWise, the fintech has grown rapidly, offering services such as international money transfers, multi-currency accounts, and business banking solutions. Wise first listed on the LSE in 2021, raising nearly $400 million and achieving a valuation of £8 billion at the time. Its current market value stands at approximately £11.07 billion.
The strategic shift is expected to provide Wise with a pathway to inclusion in major U.S. stock indices, potentially increasing liquidity and demand for its shares. The company cited the limited liquidity and lower trading volumes in London as key reasons for the move, adding that a U.S. listing could attract more index funds and exchange-traded funds (ETFs), which require higher trading volumes for inclusion.
Wise’s decision comes amid a broader trend of companies reconsidering their listing locations as London faces challenges in retaining major tech and growth firms. The LSE has experienced a wave of departures, with 2024 marking its worst year for exits since the financial crisis. Wise was previously rumored to be eyeing a FTSE 100 listing, but this latest announcement dashes hopes among UK market officials for a fintech-led revival.
Despite the shift, Wise emphasized its ongoing commitment to the UK, stating that one-fifth of its employees are based in the country and it will continue to invest in its UK operations. The company will call a shareholder meeting in the coming weeks to vote on the proposal, with results expected by the end of June.
Shares of Wise rose 7% in early trading following the announcement. The move underscores the growing appeal of U.S. capital markets for global tech firms seeking greater access to investors and higher valuations.