By John Meyer, consultant in financial affairs – Eurasia Business News, June 10, 2025. Article no. 1549.
The fintech company Wise’s decision to move its primary stock market listing from the London Stock Exchange (LSE) to a U.S. exchange has become a significant wake-up call for London’s financial market and fintech ecosystem. Wise, a leading UK-based cross-border payments firm, announced that it will maintain a secondary listing in London but shift its main listing to the U.S. to tap into the world’s largest and most liquid capital market, aiming to accelerate growth and attract more investors, especially in the U.S., its biggest market opportunity.
This move highlights ongoing challenges faced by the London Stock Exchange, including concerns over poor liquidity, governance issues, and a declining ability to retain innovative and high-growth companies. Wise’s shift follows a pattern of other major British companies relocating their primary listings abroad, such as Arm Holdings and Flutter, and recent IPO withdrawals like Cobalt Holdings abandoning London due to weak investor demand.
Wise’s CEO Kristo Käärmann emphasized that the dual listing strategy would still allow the company to support its UK shareholders and continue investing in UK talent and technology, with one-fifth of its employees based in the UK. Nevertheless, the decision underscores the urgent need for London to reform its listing rules and improve its attractiveness to tech firms and investors, as the UK risks losing its status as a premier hub for fintech and innovative companies.
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The move has sparked concern among UK policymakers and market participants, with some describing it as a “devastating” blow to London’s stock market competitiveness and prompting calls for regulatory changes to retain and attract future listings57. Wise’s shift serves as a stark indicator that London must act decisively to maintain its position as a leading global financial center in the face of increasing competition from U.S. and other international markets.
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© Copyright 2025 – Eurasia Business News. Article no. 1549.
Eurasia Business News 