Filing: Wise plans to debut on the Nasdaq as WSE and relist in London for its secondary listing; Wise reports net revenue up 19% YoY to $2.5B in its fiscal year
Wise Group Plc is making its trading debut in the US with a Nasdaq listing as the financial technology firm tries to take advantage …
Context & Ripple Effects
Wise first chose London for a direct listing in 2021, then said in 2025 that it would move its primary listing to New York while retaining a London secondary listing. The filing advances that transition from plan to Nasdaq debut.
The company is making the listing change alongside fiscal-year net revenue growth of 19% to $2.5 billion, linking its US-market move to a substantially larger operating base than at its original London listing.
First-order effects
- Wise shifts its primary trading venue to Nasdaq under ticker WSE, while preserving a secondary London listing.
- London investors retain a route to trade Wise, but Nasdaq becomes the company’s principal public-market home.
Second-order effects
- The move adds to the pressure on London to retain or attract growth-oriented fintech listings, since Wise was an early adopter of the UK direct-listing route.
- A dual-market structure may split trading activity between Nasdaq and London, making liquidity and investor participation across the two venues more consequential for Wise.
Third-order effects
- If other UK-listed fintechs follow Wise, the competitive divide between US and UK public markets could increasingly be defined by where scaling technology companies choose their primary investor base rather than whether they retain a London presence.
- The pattern also tests whether secondary London listings can preserve meaningful UK-market access after primary listings migrate to the US.
The trend: Wise is part of a broader shift in which internationally oriented fintechs keep a London foothold while moving their primary public-market center of gravity to the US.