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Revolut Eyes a Nasdaq–London Dual Listing, With the U.S. Still Favored
Revolut is considering a dual Nasdaq–London listing, but no IPO date is set. CEO Nik Storonsky favors the U.S. Storonsky has criticized London’s lower liquidity and UK stamp duty on share purchases, yet an LSE listing would be a meaningful test of London’s effort to win back major technology flotations.
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Key takeaways
- Revolut is considering a dual Nasdaq–London listing, but no IPO date is set. CEO Nik Storonsky favors the U.S.
- Storonsky has criticized London’s lower liquidity and UK stamp duty on share purchases, yet an LSE listing would be a meaningful test of London’s effort to win back major technology flotations.
- Revolut’s reported $75 billion private market valuation gives any eventual IPO a high starting point, but the exchange where trading and price discovery concentrate could materially shape its public market valuation.
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openai.comCreate a landscape editorial hero image for this Studio Global article: What are Revolut’s plans for a potential dual listing on Nasdaq and the London Stock Exchange, why does CEO Nik Storonsky currently prefer t. Article summary: Revolut is exploring a dual listing on Nasdaq and the London Stock Exchange, but no IPO has been formally launched or dated. CEO Nik Storonsky says the U.S. is the preferred venue because of its deeper liquidity and stro. Topic tags: general, news, general web, user generated. Style: premium digital editorial illustration, source-backed research mood, clean composition, high detail, modern web publication hero. Use reference image context only for broad subject, composition, and topical grounding; do not copy the exact image. Avoid: logos, brand marks, copyrighted characters, real person likenesses, fake screenshots, UI text, readable text, watermarks, charts w
Revolut is considering a dual stock-market listing on Nasdaq and the London Stock Exchange (LSE), according to founder and CEO Nik Storonsky. The plan is not a launched IPO or a final commitment: the company has not announced a date, pricing range or formal listing structure. Its clearest message is that London remains under consideration, while the U.S. is the preferred market. 17
What Revolut is considering
Storonsky said Revolut was looking at a listing in both New York and London, with Nasdaq identified as the U.S. venue. A Revolut spokesperson confirmed the report to Reuters. 17
A dual listing could give the company access to investors on both sides of the Atlantic. But it would not make the two venues equally important. The market that attracts the most trading volume and institutional attention would likely play the larger role in price discovery and in how investors value the shares.
Why Storonsky prefers Nasdaq
Storonsky’s rationale is principally about market depth. He has described the U.S. as a larger market with a broader pool of potential buyers, including institutional investors, hedge funds, fund managers and retail investors. 6
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That matters because a deeper investor base can support trading liquidity and give a growth-focused fintech more specialist analyst coverage and more relevant public-market comparables. Nasdaq would tend to place Revolut alongside U.S. fintech, payments and technology businesses rather than primarily European financial-services companies. The choice does not alter Revolut’s operating business, but it can influence the investor audience and valuation framework around it. 2
What concerns him about London
Storonsky has been unusually blunt about the UK market. In earlier comments, he argued that the U.S. market was more liquid and pointed to the UK’s stamp duty on share purchases as a disadvantage versus U.S. trading. 12
Those comments help explain why a London leg, if it happens, should not be read as a reversal of his preference for New York. Instead, it could be a way to preserve a connection to Revolut’s home market while seeking the scale of U.S. capital markets.
When could Revolut list?
There is no official timetable. Storonsky had previously suggested a flotation could happen in roughly two years, depending on how good the market is. Reported in September 2026, that indication points toward about 2028 rather than an imminent IPO. 7
The condition is important. IPO timing is highly sensitive to equity-market volatility, sector valuations and investor appetite. Revolut can prepare for public markets without proceeding until it believes pricing conditions are favorable.
Why a London listing would matter
A Revolut float on the LSE would be a high-profile win for London at a time when the UK is trying to revive its listings market. The Financial Conduct Authority has simplified parts of the IPO process, saying the changes are intended to lower compliance costs and execution risk as the country seeks to reverse a prolonged slowdown in flotations. 19
For London, the significance would extend beyond one company. Revolut is a UK-founded fintech with global ambitions; securing even one leg of its eventual listing would challenge the perception that the biggest British technology companies must go to New York for public capital.
Valuation: an important but incomplete signal
Revolut was valued at about $75 billion in a November 2025 secondary share sale, according to IG. 9 That is a private-market reference point, not an IPO valuation or a guarantee of what public investors will pay.
The eventual valuation will depend on financial results, growth expectations, regulatory progress and market conditions at the time of the offering. Venue could matter at the margin: Nasdaq may bring comparisons with higher-growth U.S. fintech and technology peers, while London may draw more attention to UK and European financial-services comparables. 2
Bottom line
Revolut’s prospective dual listing is best understood as an effort to keep London in contention without giving up the benefits Storonsky sees in the U.S. Nasdaq is currently the strategic priority because of its scale and liquidity, while an LSE listing could provide access to UK investors and a symbolic boost to London’s market.
Until Revolut files formal IPO documents, however, the structure, timing and valuation remain open—and the company’s own market-conditions caveat means a 2028-style window is an indication, not a deadline. 7
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Revolut is considering a dual Nasdaq–London listing, but no IPO date is set. CEO Nik Storonsky favors the U.S.
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Revolut is considering a dual Nasdaq–London listing, but no IPO date is set. CEO Nik Storonsky favors the U.S. Storonsky has criticized London’s lower liquidity and UK stamp duty on share purchases, yet an LSE listing would be a meaningful test of London’s effort to win back major technology flotations.
What should I do next in practice?
Revolut’s reported $75 billion private market valuation gives any eventual IPO a high starting point, but the exchange where trading and price discovery concentrate could materially shape its public market valuation.