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\t\tWise dealt a blow to the City after ditching its primary listing.\t<\/p>\n\t\t\tMonday 13 April 2026 7:40 am\n\t\t\t<\/p>\n
\t\tWise dealt a blow to the City after ditching its primary listing.\t<\/p>\n
Money transfer firm Wise has confirmed the timeline for switching its primary listing to the US<\/a> with the move expected to take place this quarter. <\/p>\n The UK fintech<\/a> said during a fourth-quarter update that its results for the latest financial year will published in the US dollar, which it said was \u201creflecting the expected completion\u201d of the dual listing.<\/p>\n It came as Wise revealed cross-border volumes \u2013 the total value or number of financial transactions \u2013 climbed 26 per cent in its latest quarter to just shy of \u00a350bn.<\/p>\n This came as the number of active customers swelled 22 per cent year-on-year to 11.3m.<\/p>\n Customer holdings with the fintech jumped 37 per cent to \u00a329.4bn, helping pave the way for a near 30 per cent increase in card revenue streams.<\/p>\n Wise has sought to further park its tanks on the lawns of banking incumbents with the debut of its UK current account in the last month.<\/p>\n Wise sets sights on \u2018major US indices\u2019<\/p>\n The payments firm said it is forecasting its pre-tax profit margin \u2013 a key metric for profitability \u2013 to be in the top-end range of its 13 to 16 per cent target.<\/p>\n \t\t\t\t\tRead more<\/p>\n \t\t\tEuropean fintechs ride the Trump train to Wall Street<\/a><\/p>\n This comes after Wise shouldered increased costs over the financial year related to the switch in its listing.<\/p>\n Marketing investment increased 59 per cent to \u00a357m in the first half of the year whilst tech investment was up 18 per cent to \u00a3144m. Wise, at the time, also laid out plans to hire over 1,000 additional colleagues as it bulks up capacity.<\/p>\n \u201cWe believe that the addition of a primary US listing would bring a number of strategic and capital markets benefits to Wise and its owners, including greater visibility in the United States, the biggest market opportunity for our products today, and better access to the world\u2019s deepest and most liquid capital market,\u201d the firm said on Monday.<\/p>\n When Wise revealed plans for the listing change in June 2025<\/a>, the fintech said it hoped the move would \u201cprovide a potential pathway to inclusion in major US indices,\u201d which marked a blow to City officials after the payments firm had been speculated an eventual blue-chip candidate.<\/p>\n The plans triggered a\u00a0major rift between founders<\/a>\u00a0Kristo K\u00e4\u00e4rmann and\u00a0Taavet Hinrikus, with the latter saying he was \u201cdeeply troubled\u201d over plans to change voting rights as part of a vote on the listing change.<\/p>\n He accused K\u00e4\u00e4rmann of a \u201clack of transparency,\u201d adding it was \u201centirely inappropriate and unfair to wrap these distinct issues together,\u201d referring to combining an extension on shares voting rights with the listing change.<\/p>\n But K\u00e4\u00e4rmann was\u00a0able to curb a rebellion<\/a>, as more than 90 per cent of Class A shareholders and 84.6 per cent of Class B shareholders approved the deal, which also permitted a ten-year extension of the super-voting shares held by only a handful of inside investors.<\/p>\n \t\t\t\t\tRead more<\/p>\n