Wise Seeks Visibility: From London to Nasdaq
Wise, the fintech company known for its low-cost cross-border payments, is shifting its primary listing from London to the Nasdaq. This move aims to leverage U.S. capital market benefits. Wise recently applied for a U.S. bank charter, which could enhance its operational efficiency and reach.
Fintech leader Wise is transitioning its main market listing from London to the Nasdaq on Monday, seeking larger capital market advantages in the United States. The change aims to increase visibility and access to deeper financial markets.
Established in 2011, Wise specializes in low-cost cross-border payments and multi-currency banking services, with its volume growing 31% to $243 billion last financial year. This move poses a setback to London's market, attempting revival amidst companies shifting listings to stronger markets.
CEO Kristo Kaarmann noted the U.S. market's liquidity and depth as key factors for the decision, complemented by the prospect of a national trust bank charter to streamline currency flows and enhance direct connections to U.S. payment systems.
(With inputs from agencies.)
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