Revolut's Storonsky Says Fintech Weighing Dual Listing in London and New York

Revolut founder and CEO Nik Storonsky told French newspaper Les Echos on Thursday, September 17, that the fintech is weighing a dual stock listing on the London Stock Exchange and Nasdaq when it eventually goes public. A Revolut spokesperson confirmed the plan to Euronews on Friday. That confirmation didn't come instantly everywhere. Revolut later confirmed the dual-listing plan to Reuters directly, according to ON Invest's reporting.

The US still comes first

Storonsky was not shy about ranking the two markets. "It's a larger market. It includes institutional investors, hedge funds, fund managers and a considerable number of individual investors," he told Les Echos. "So we have the choice between selling in a small market with few buyers, or in a gigantic market with a huge number of buyers who will compete fiercely for our shares. Therefore, yes, we prefer the United States." This marks a real shift in tone. In 2024, Storonsky said the London Stock Exchange "can't compete" with US markets, pointing specifically to the UK's 0.5% stamp duty on share purchases and what he called a more complicated regulatory environment for public companies, according to the Financial Times as cited by The Paypers and Traders Union. This is the first time Revolut has publicly put London back on the table.

The money at stake

Revolut's valuation has moved fast. A secondary share sale in July 2026 valued the company at roughly $115 billion, up from $75 billion in November, according to Euronews. Financial Times reporting cited by Crypto Briefing and ON Invest says Revolut's internal targets for the eventual IPO run as high as $150 billion to $200 billion. At $115 billion, Revolut would already be worth more than Barclays, NatWest, BP and GSK, according to Euronews and The Paypers. If a London listing happens anywhere near that number, Revolut would instantly become one of Britain's largest publicly traded companies.

Regulatory boxes getting checked

Revolut has spent 2026 building the paperwork trail a listing requires. It secured a full UK banking licence in March, a process Storonsky has publicly blamed on slow British regulators after Revolut spent years addressing concerns about its risk and control functions, according to The Paypers. It picked up a French banking licence in August, and in September received conditional approval for a US national bank charter, according to Euronews. None of that locks in a listing date. Storonsky told Bloomberg in April that an IPO could come "in two years' time" but "depends on how good the market is," meaning no earlier than 2028, a timeline repeated across multiple outlets including ON Invest and Traders Union.

London's

consolation prize The London Stock Exchange has been bleeding new listings for years. Payments group Wise moved its primary listing to New York earlier in 2026, and AstraZeneca has been expanding its US footprint, according to Euronews. UK officials have been actively trying to persuade Revolut to list at home as part of a broader push to reverse that trend, according to The Paypers and Traders Union. Even a secondary listing on the LSE attached to a company potentially worth more than Barclays would be a genuine win for a market that's mostly been watching companies walk out the door. UK officials pushing for that outcome point to symbolism, and they're not wrong that losing flagship names to New York matters when your exchange is already under pressure. Storonsky's own math is the harder fact. He's not saying London is bad policy in the abstract. He's saying a market with fewer buyers and a tax on share trades gets you a worse price than a market without those frictions. A founder picking the venue where competition among buyers is fiercest will be upfront that stamp duty and regulatory hassle pushed London down his list for two straight years before it came back as a secondary option. Revolut has 80 million customers across roughly 30 countries and remains Europe's most valuable startup, according to The Paypers. What's still unresolved is whether the company hits its $150 billion-plus internal target before any listing happens, whether the conditional US bank charter converts to final approval, and whether "two years" from Storonsky's April comment holds once market conditions get tested closer to 2028.