According to Fixygen, the British fintech company Revolut, whose private valuation has reached $115 billion, is considering the United States as the primary market for its upcoming initial public offering (IPO). The company is open to a simultaneous listing in New York and London, but is prioritizing the U.S. stock market due to its greater liquidity and access to international investors.
Revolut founder and CEO Nick Storonsky confirmed in an interview with Bloomberg TV that the company is interested in conducting its primary listing in the U.S. if it decides to go public.
“This has always been our goal, given the high liquidity of the U.S. market,” Storonsky said.
Previously, Revolut’s management had considered a dual listing on the U.S. Nasdaq and the London Stock Exchange. The new statement clarifies the company’s priority but does not signify a definitive rejection of the British trading platform.
At the same time, an IPO is not expected before 2028. Storonsky had already mentioned these tentative timelines back in April 2026, noting that public company status could help boost customer and investor confidence in the financial institution.
The decision regarding the future offering will depend on market conditions, the company’s financial performance, and compliance with regulatory requirements.
In July 2026, Revolut launched a secondary sale of shares held by employees and early investors, in which the company was valued at $115 billion. According to Reuters, the price per share was $2,017.
The new valuation exceeded the November 2025 figure by more than 50%, when Revolut was valued at $75 billion following a similar transaction.
Thus, in just eight months, the company’s private valuation increased by approximately $40 billion.
At this valuation, Revolut surpassed the market capitalization of a number of major European financial groups, including Britain’s Barclays and France’s Société Générale, based on figures at the time of the transaction.
At the same time, a private company’s valuation is not equivalent to its market capitalization. During an IPO, the final share price will be determined by investor demand and the business’s financial prospects.
The move into the U.S. stock market is linked to Revolut’s plans to significantly expand its banking operations in the United States.
On September 3, 2026, the company announced that it had received conditional approval from the U.S. Office of the Comptroller of the Currency (OCC) to establish Revolut Bank US, a national bank.
To fully launch the banking institution, the company still needs to complete the approval process with the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve System, and the OCC.
Revolut expects to meet the necessary requirements and launch its U.S. bank in 2027.
Once it receives final approvals, the company plans to offer U.S. customers deposit accounts, credit cards, consumer loans, and other banking products.
According to Storonsky, Revolut intends to compete in the U.S. market with major financial institutions, including JPMorgan Chase and American Express.
The transition to a full-fledged banking model will allow the company to diversify its revenue streams by expanding lending and attracting deposits. At the same time, expanding the lending business will require additional investments in capital, risk management, and compliance with banking regulations.
Throughout 2026, Revolut also achieved significant milestones in the development of its European banking business.
On March 11, the British regulator, the Prudential Regulation Authority, allowed Revolut Bank UK Ltd to complete the transitional licensing phase and begin full-fledged banking operations in the United Kingdom.
The company gained the ability to offer bank accounts with deposit protection through the UK’s Financial Services Compensation Scheme (FSCS). At the time of the announcement, Revolut had approximately 13 million customers in the UK.
On August 10, 2026, Revolut received a full banking license in France following approval from the French regulator ACPR and the European Central Bank.
The company also plans to invest over €1 billion in business development in Western Europe. In particular, the company plans to open a new regional office in Paris in early 2027.
According to Revolut, as of September 2026, the company had more than 80 million customers worldwide.
The prospect of one of Europe’s most valuable fintech companies going public on a U.S. stock exchange is significant for the British financial market. London is competing with New York to attract large technology companies seeking access to a broad base of institutional and retail investors.
For Revolut, the advantage of the U.S. lies not only in the liquidity of the stock market but also in the opportunity to expand its presence in the world’s largest financial services market.
At the same time, with a dual listing, the company will be able to maintain its presence on the London Stock Exchange, even if the bulk of trading in its shares takes place in the U.S.
Revolut was founded in 2015 by Nick Storonsky and Vlad Yatsenko. The company began as a mobile app for currency transactions and international payments, and later expanded its range of services to include bank accounts, payment cards, international money transfers, investment instruments, cryptocurrency transactions, and financial products for businesses. The company is headquartered in London.
