London-based fintech giants, Wise and Revolut, are setting their sights on the U.S. market, with plans for stock listings playing a significant role in their expansion strategies. Both companies envision the U.S. as a key market for growth and are keen on leveraging the opportunities it presents.
U.S. Listings: A Strategic Move for Wise and Revolut
Wise, formerly known as TransferWise, has expressed its intention to make the U.S. its primary listing and move its U.K. listing to a secondary position. “The U.S., as the world’s largest economy, presents the biggest market opportunity for Wise products today,” Harsh Sinha, U.S. President at Wise, stated in an interview with American Banker. Sinha further elaborated that a U.S. listing would closely align Wise’s expansion prospects, engaging new customers and partners in the region. This announcement came in tandem with Wise’s declaration of its Nasdaq listing on May 11, 2025.
Revolut, on the other hand, has stated its preference for a U.S. or dual listing. Revolut’s CEO, Nik Storonsky, aims to take the company public by 2028 and hopes to attain a valuation of $200 billion. The company’s most recent valuation was pegged at $75 billion. However, Revolut refrained from commenting on these media reports, instead emphasizing its focus on expanding the business, developing new products, and serving its growing global customer base.
Revolut’s U.S. Ambitions and Plans
Revolut is also working diligently to secure a U.S. banking license ahead of its listing. The company anticipates obtaining the license by early 2027 and plans to conduct another share sale to boost its valuation before its 2028 listing. Attaining a banking license would enable Revolut to access Fedwire and the ACH, thus facilitating the expansion of its payments business in the U.S. Moreover, the company recently appointed Visa and Capital One veteran Cetin Duransoy as its U.S. CEO, signifying its commitment to penetrating the American market. Revolut also intends to leverage its Mexican license to offer cross-selling financial services to Mexican American consumers in the U.S.
Wise’s U.S. Expansion Strategy
Wise has outlined a multi-pronged strategy for its U.S. expansion. This includes optimizing customer onboarding, launching a zero-fee first transfer promotion, and offering businesses additional invoicing options for international transactions. Wise is also exploring a digital-asset strategy, with particular emphasis on stablecoins, most of which are backed by U.S. dollars. Sinha, from Wise, views stablecoins as an exciting development in the global payments ecosystem, potentially revolutionizing the speed, cost, and safety of cross-border transfers.
Why the U.S. Market?
Despite their U.K. origins, both Wise and Revolut see immense potential in the U.S. market. Wise continues to value the U.K. as a crucial market, with 20% of its staff based in the country and plans to maintain a secondary listing on the London Stock Exchange. However, the allure of the vast U.S. market, with its liquidity and growth opportunities, is hard to ignore for these fintech giants.
Aaron McPherson, principal at AFM Consulting, explains that the companies’ U.S. listings would likely attract a larger share of investors, advancing their U.S. expansion goals. He also highlights the resilience of the U.S. economy, despite inflationary pressures, as a draw for these firms.
With the growing adoption of fintech-based primary banking relationships in the U.S., newcomers like Wise and Revolut can enter a market ripe for disruption, offering digital-first strategies that could provide viable solutions for U.S. consumers, states Tony DeSanctis, senior director at Cornerstone Advisors.
This article was originally published Here.
