Revolut is reportedly exploring a dual listing in London and New York, a move that would mark a landmark moment for both financial hubs.
Key Takeaways:
- Revolut is considering a dual listing in London and New York that could value the company at $75 billion.
- If approved, it would become the first firm to join the FTSE 100 while listing in New York simultaneously.
- Recent UK regulatory reforms and political support may be shifting the company’s stance toward a London debut.
If completed, the listing could value the fintech giant at around $75 billion, positioning it among the most valuable companies on the London Stock Exchange.
According to a senior City source cited by The Sunday Times, the possibility of a dual listing is now “widely discussed” within financial circles.
Revolut Could Become First to Join FTSE 100 and List in New York Simultaneously
A deal of this scale would make Revolut the first company to simultaneously list in New York while entering the FTSE 100 index in London.
With a market cap equivalent to £55 billion, it would rank among the top 15 listed firms in the UK.
Founded by Nik Storonsky, Revolut has evolved from a travel-focused prepaid card into Europe’s most valuable private fintech, with services spanning crypto trading, hotel bookings, business accounts, and more.
The company serves 65 million users globally, 12 million of whom are based in the UK. Despite previously criticizing London’s listing environment, pointing to the 0.5% stamp duty on share trades, Storonsky has signaled openness to the UK if conditions improve.
Recent regulatory changes may have tipped the balance. Companies the size of Revolut can now be fast-tracked into the FTSE 100 within five days, making index-tracking fund participation in IPOs significantly easier.
Storonsky recently referred to the UK as “our home country” during the launch of Revolut’s new Canary Wharf headquarters, where UK Chancellor Rachel Reeves called Britain “the best place to do business.”
Revolut’s chairman Martin Gilbert attended a meeting during President Trump’s state visit between Reeves and U.S. Treasury Secretary Scott Bessent, where a transatlantic taskforce was announced to encourage dual listings.
On the same trip, Nvidia CEO Jensen Huang also pledged investment in Revolut.
Crypto IPOs Gain Momentum
Last week, BitGo officially filed for an initial public offering, becoming the first dedicated crypto custodian to pursue a listing on a US stock exchange.
BitGo’s IPO filing came amid renewed momentum for crypto-related public offerings.
The digital asset space has seen several notable public listings in 2025. Stablecoin issuer Circle made a splash with its IPO in June, surging more than sevenfold since going public.
Online trading platform Etoro, which offers crypto trading among its services, debuted in May.
In addition, Galaxy Digital, led by Mike Novogratz, moved its listing from the Toronto Stock Exchange to Nasdaq earlier this year.
Gemini, the exchange founded by the Winklevoss twins, filed confidentially for a U.S. IPO in June, signaling strong market confidence in crypto exchanges going public.
More recently, Figure Technology Solutions Inc., a blockchain-focused lending platform, raised $787.5 million in its initial public offering.
The San Francisco-based company, alongside key backers including Ribbit Capital, sold 31.5 million shares at $25 apiece, valuing the firm at roughly $5.3 billion.
Originally targeting a lower range, Figure increased both the share count and price just days before the listing, signaling strong investor demand.
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