Money switch agency Wise confirms it’s on observe to modify main itemizing from the UK to the US subsequent month

Wise is expected to shift its primary listing from the UK to the US next month, as the money transfer firm reported soaring income in its latest results.

The London-headquartered company proposed a dual listing in the US and UK last June, and today said it expects to begin trading on Nasdaq on May 11.

Wise said transferring its primary listing to the US, with a secondary listing in London, would ‘accelerate’ its path ‘to become ‘the’ network for the world’s money’.

It added: ‘We believe that the addition of a primary US listing would bring a number of strategic and capital markets benefits to Wise and its owners’.

It said the listing would lead to ‘greater visibility’ in the US, having grown its staff to more than 750 there.

As part of its efforts, Wise said it would report its 2026 results in dollars rather than sterling under US accounting standards.

It came as the fintech beat expectations in the fourth quarter, with underlying income increasing 24 per cent to £435.3million, exceeding analyst expectations.

Cross-border transaction volumes rose 26 per cent in the three months to 31 March to £49.4billion and Wise expects annual profit margins to be at the top end of its 13 to 16 per cent forecast.

Customer numbers soared 22 per cent year-on-year to 11.3million active customers in the period, with customer holdings growing 37 per cent to £29.4billion.

Wise shares rose 5.3 per cent to 1,023.5p this morning.

Wise shareholders overwhelmingly voted to list in the US last year, despite the controversy over the decision to tie the vote to an extension of its dual class share structure, which gives enhanced voting rights to class B shareholders.

Co-founder Taavet Hinrikus said he was ‘deeply troubled’ by the move and said it risked betraying Wise’s principles.