Wise to Debut on Nasdaq, Moving from London to New York

• Wise has applied for a U.S. trust bank charter and Fed master account to settle dollar payments directly with the Federal Reserve, potentially cutting costs and speeding transfers
• The company will maintain a secondary listing in London but establish its U.S. hub in Austin, Texas, where it already employs over 750 people
• The shift follows a broader trend of companies leaving London for better-performing markets, dealing another blow to Britain's attempts to revive its capital markets appeal

Wise Shifts Primary Listing from London to Nasdaq

Money transfer company Wise debuts on the Nasdaq on Monday, May 11, 2026, moving its primary listing from London while maintaining a secondary listing in the UK capital where it remains headquartered.

Key Financial Metrics:

• Founded in 2011, Wise facilitated $243 billion in cross-border payment volume in the fiscal year ending March 31
• Volume increased 31% year-over-year
• The company employs over 750 people in the U.S., with its American hub in Austin, Texas

Rationale for Move:

CEO and co-founder Kristo Kaarmann cited the U.S. having the world's deepest and most liquid capital markets, providing easier investor access. CFO Emmanuel Thomassin emphasized significant growth opportunities in the U.S. market, particularly given Wise's technology advantages over existing U.S. banking infrastructure.

Strategic Initiatives:

Wise applied for a U.S. trust bank charter under the Office of the Comptroller of the Currency in July and is seeking a Federal Reserve master account. If approved, these measures would enable the fintech to bypass intermediary banks and settle U.S. dollar payments directly with the Fed, potentially reducing costs, accelerating transfers, and providing tighter control over its largest currency flows.

Market Implications:

The listing migration represents another setback for London's efforts to retain major technology companies. Britain has struggled with declining appeal as deeper, better-performing markets elsewhere attract companies to relocate, while fewer new firms choose London for initial listings. This trend reflects broader challenges facing the UK in maintaining its position as a leading financial center for high-growth technology companies.