Revolut weighs London–NY dual listing, valued near $75B
Revolut, the UK-based fintech company valued at around $75 billion, is weighing a dual stock market listing in both London and New York following a secondary share sale.
The company is exploring listing some shares in London while maintaining presence in New York, hereby marking a shift after earlier resistance to a London float.
Revolut's secondary share sale, which values the firm at $75 billion, has reignited speculation about a dual listing approach. The fintech had historically preferred U.S. markets, but recent regulatory reforms in the UK may be influencing reconsideration.
CEO Nik Storonsky previously dismissed a London listing as "not rational" compared to U.S. exchanges, citing lower liquidity and stamp duty costs. Adjustments to London's listing rules, including more flexible share structures and faster inclusion in indices, have changed the calculus.
The dual listing consideration comes as government officials and regulators court high-growth firms to bring listings to London. The City of London has seen weak capital markets activity in 2025.
Revolut continues pushing into the U.S. market and is reportedly evaluating acquiring a U.S. bank or applying for a U.S. banking license to support expansion.
Revolut's secondary share sale, which values the firm at $75 billion, has reignited speculation about a dual listing approach. The fintech had historically preferred U.S. markets, but recent regulatory reforms in the UK may be influencing reconsideration.
CEO Nik Storonsky previously dismissed a London listing as "not rational" compared to U.S. exchanges, citing lower liquidity and stamp duty costs. Adjustments to London's listing rules, including more flexible share structures and faster inclusion in indices, have changed the calculus.
The dual listing consideration comes as government officials and regulators court high-growth firms to bring listings to London. The City of London has seen weak capital markets activity in 2025.
Revolut continues pushing into the U.S. market and is reportedly evaluating acquiring a U.S. bank or applying for a U.S. banking license to support expansion.
A listings expert told Financial News London that "at their size there is logic to it" regarding a London listing. Revolut declined to comment on the dual listing possibility.
Revolut's $75 billion valuation stems from a secondary share sale allowing employees to sell up to 20% of their holdings. The sale followed a prior valuation of $45 billion in 2024.
The timing of any dual listing could depend on how Revolut resolves regulatory and banking license requirements in the UK and U.S. The company has been seeking a UK banking license since 2021.
Revolut offers banking services, cryptocurrency trading, and investment products to over 40 million customers globally. The company operates across Europe, the U.S., and other markets.
Revolut's $75 billion valuation stems from a secondary share sale allowing employees to sell up to 20% of their holdings. The sale followed a prior valuation of $45 billion in 2024.
The timing of any dual listing could depend on how Revolut resolves regulatory and banking license requirements in the UK and U.S. The company has been seeking a UK banking license since 2021.
Revolut offers banking services, cryptocurrency trading, and investment products to over 40 million customers globally. The company operates across Europe, the U.S., and other markets.
Author
Sebile Fane cut her teeth in blockchain by building tiny NFT experiments with friends in her living room, long before the buzzwords took hold. She’s driven by a curiosity for the human stories behind smart contracts — whether it’s a small-town artist minting her first token or a DAO voting on climate grants — and weaves technical insight with genuine empathy.
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