Revolut CEO Nik Storonsky says the fintech is exploring a dual stock market listing in New York and London, after previously dismissing listing in the UK

Revolut's dual listing decision means London will get exposure to a major fintech IPO, even if New York is the primary venue.

Revolut, the fintech company, is actively exploring a dual stock market listing on both the New York Stock Exchange (or Nasdaq) and the London Stock Exchange. CEO Nik Storonsky confirmed this exploration, citing the significant liquidity and vast institutional investor base of the US market as primary drivers for its inclusion. This marks a shift from previous statements where Storonsky expressed skepticism about a UK listing. A dual listing would position Revolut among the largest companies traded on the London Stock Exchange, with a recent valuation of approximately $115 billion. The company has indicated that any listing would not occur before 2028. This decision comes after Revolut faced a lengthy process to obtain a UK banking license, which required addressing regulatory concerns.

Revolut's consideration of a dual listing in New York and London signals a pragmatic approach to accessing global capital markets, balancing the immense liquidity of the US with the strategic importance of a domestic presence for a prominent European fintech. This move underscores the ongoing competition among global exchanges to attract high-value tech IPOs and highlights the UK's efforts to retain major listings despite previous challenges. The company's significant customer base and valuation make its listing plans a bellwether for the broader fintech sector's public market appetite.

The decision reflects a strategic calculation by Revolut to leverage the US market's deep pools of institutional investors and trading volume while simultaneously seeking to appease domestic stakeholders and potentially benefit from listing fees and visibility in London. This approach acknowledges the different strengths of each market, aiming to optimize valuation and post-listing trading dynamics. For the London Stock Exchange, securing a dual listing would be a victory in its ongoing efforts to boost its appeal to technology companies.