Revolut Explores Seventy Five Billion Dollar Dual Listing Across New York And London Markets

Revolut, the rapidly expanding fintech powerhouse, is reportedly considering an historic dual listing in both New York and London, signalling a significant boost for the City and an evolution in founder Nik Storonsky’s approach to public markets. A valuation of at least $75 billion would make the float one of the largest on record, positioning Revolut among the most valuable companies on the London Stock Exchange and potentially landing it in the FTSE 100 within days – an unprecedented feat for a tech firm headquartered in Britain.

Storonsky, aged 41, has long been a vocal sceptic of listing in London due to stamp duty on share trading but appears more receptive following recent regulatory changes. The UK’s revised rules now allow for fast-tracking companies of Revolut’s scale into the FTSE 100, enabling index-tracking funds easier access to IPOs and potentially offsetting earlier concerns.

Revolut currently serves 65 million customers globally, including 12 million in the UK, and has expanded well beyond its origins as a pre-payment travel card provider. Its services now encompass cryptotrading, hotel bookings, and broader financial products. The firm employs around 10,000 staff, with 1,300 based in London, demonstrating its deep roots in the British financial ecosystem.

The fintech’s current focus includes launching its UK bank, which is presently in testing after receiving authorisation from the Bank of England. Storonsky prioritises this rollout as he eyes an ambitious target of reaching 100 million customers worldwide. In a marked demonstration of commitment to the UK, Revolut recently opened its new global headquarters in Canary Wharf, an event attended by Chancellor Rachel Reeves and company chairman Martin Gilbert.

Industry insiders note that a dual listing, full rather than secondary, is a rarity and would mark a first for simultaneous entry into the FTSE 100 and a New York exchange. The City is abuzz with speculation after precedent was set this week by Texas-based Fermi, which floated on New York’s Nasdaq alongside a London debut, albeit as a secondary listing.

Interest in Revolut remains strong, evidenced by an ongoing secondary share sale valuing the company at $75 billion. Investment from major players such as Nvidia further underlines market confidence. As the capital markets on both sides of the Atlantic strive for closer co-operation, Revolut’s potential dual listing could define a new era of transatlantic fintech leadership and UK market dynamism.