“In reality, we are currently planning a dual listing, on the London Stock Exchange and the Nasdaq,” Nik Storonsky told Les Echos.
The Revolut founder was in Paris on Monday. Gabriel Nédélec and Ingrid Feuerstein interviewed him for the French paper, which published on Thursday.
It is the first time he has pointed to a London listing. Revolut was valued at $115bn in a share sale in July, and a float at that level would make it one of Britain’s largest listed companies.
He spent two years saying the opposite
Storonsky has been dismissive of the London market for years. In 2024 he said it could not compete with the United States.
His objection was specific. Britain charges 0.5% stamp duty on share purchases, and he argued that made a London listing uneconomic.
“The UK is less liquid so it’s much worse compared to the US plus it’s much more expensive because you pay stamp duty,” he said at the time. He called listing in Britain “just not rational”.
The Telegraph reports that the stamp duty is still in place. What has changed is the size of the company and the state of the market he was dismissing.
London has lost more than it has won
The London Stock Exchange has been through a long drought of new listings. Companies have stayed private or gone public elsewhere.
Wise is the case that stings most. The money transfer firm left London for Nasdaq, moving its primary listing to New York this year.
AstraZeneca has been building up its New York presence while keeping its FTSE 100 place. A partial Revolut listing would be the first significant win London has had in a while.
Dual listings are also uncommon. The companies that run them tend to be among the largest and most heavily traded.
The interview was mostly about Europe
Storonsky was in Paris for a reason, and it was not the stock market. Revolut has just won a French banking licence, and France is meant to become the base for its European expansion.
The company counts 70 million customers worldwide. Just over 30 million of them are in Europe.
That French banking licence is not the full one yet. Les Echos reports that European authorities have set conditions before Revolut can offer mortgage lending.
Last week it added a sixth banking licence, in Colombia. It also received a full UK banking licence in March, having applied in 2021.
Why he still prefers New York
Storonsky was blunt about the arithmetic. The American market is simply bigger.
“We have the choice between selling in a small market with few buyers, or in a gigantic market with a huge number of buyers who will compete fiercely for our shares,” he told Les Echos. “Therefore, yes, we prefer the United States.”
He also made a retail argument. A strong consumer brand in the United States means customers buy into the offering themselves, which he said lifts the market capitalisation.
The venue he named in New York was the Nasdaq. That is the same exchange Wise moved to.
Nobody has set a date
Storonsky said earlier this year that a listing would not happen before 2028. In April he put it at roughly two years away and made it conditional on the market.
A person close to Revolut told The Telegraph that a float would be subject to market conditions. Nothing said this week changes that.
Revolut reached its $115bn valuation in a secondary share sale in July, up from $75bn in November 2025. It is the most highly valued fintech in Europe.
His own stake has been part of the preparation. In August the company moved to let him borrow against his own shares, up to $250mn.
Revolut was founded in London in 2013 and works out of Canary Wharf. Storonsky has called British regulators bureaucratic and said it is hard to do business in the UK.