Revolut, the fintech giant based in London, is considering an unprecedented dual listing in London and New York, valuing the company at $75 billion.
If executed, it would be a first, with a company listed in New York while simultaneously being added to the FTSE 100 index. This would put Revolut into the top 15 valuable companies on the London Stock Exchange.
With London well into a lengthy IPO drought, this would provide a potential shot of confidence to the financial markets and help affirm London’s continued position within the global finance ecosystem.
Strong Financial Performance Fuels IPO Speculation
The report about the IPO occurred when Revolut had enjoyed incredible financial results. The company announced on April 24 that it had doubled pre-tax profits to £1 billion for 2024, according to UnoCrypto.
One of the notable contributors to the growth this year has stemmed from its crypto and stock trading businesses, generating revenue of £506 million, following the launch of its crypto and stock trading platform, Revolut X.
New account inflows have also been robust, with 14.5 million added; total deposits reached $39.8 billion.
In addition, premium subscription revenue experienced a gain of 74%, indicating the strength of Revolut’s diversified business.
These results have helped bolster the belief that Revolut has entered discussions about the public markets with a strong financial performance.
Also Read: Revolut Valued At $45B Commence Offering Crypto Derivatives Products With Hiring Plans In Motion
Shifting Attitudes Toward London Listings
Nik Storonsky, the founder of Revolut, had remained cautious against a London listing for some time due to the 0.5% stamp duty on trading shares, which he believed would deter investors.
Yet, with regulatory changes aimed at improving conditions, he has more recently portrayed a sense of agility.
New regulations allow similar companies to be fast-tracked into the FTSE 100 within five days, allowing for better access to the potential for ownership from index-tracking funds.
Storonsky has recently indicated he would be flexible, stating he would list in London “if you truly offered a better product”.
His comments at the opening of the new headquarters in Canary Wharf, where he called Britain “our home country,” suggest there is a new or increasing willingness to base the next chapter of the company in London, and also reflect a political proclivity from UK leaders.
Also Read: Revolut Doubles Pre-Tax Profit To £1B In 2024, Fueled By Crypto Trading
Crypto Expansion Signals Global Ambitions
While evaluating its prospects for an IPO, Revolut also plans to launch a crypto expansion to match its enthusiasm.
On June 3rd, the company debuted a crypto derivatives platform and began hiring a General Manager in London, Barcelona, and Dubai, according to UnoCrypto.
Regulatory conditions in the UK could reduce product offerings, while Revolut will focus on Europe and Dubai as it establishes itself as a global leader in crypto.
Revolut has recently enjoyed momentum from the Revolut X exchange and is growing its crypto revenue, which is now a key part of profitability.
By pursuing an IPO and soft launching an expansion into crypto, Revolut is signaling that it wants to own, not just the UK fintech sector, but be a next-wave financial player.
Also Read: Lithuanian Regulators Fines Crypto-Friendly Bank Revolut €3.5M Over AML Failings
Other Fintechs Eye IPOs
Revolut’s prospective public offering comes amid other heavyweights in the crypto and fintech worlds looking to go public.
On September 20th, BitGo announced its application for a U.S. IPO following a 274% increase in H1 2025 revenue to $4.19 billion, but net income was down almost 59% to $12.6 million, according to UnoCrypto.
Just earlier this week, on September 26th, we reported that Kraken raised $500 million in a funding round that brought the company’s valuation to $15 billion as Kraken begins to prepare for its own public offering.
All of these actions show investor appetite for fintech and digital asset companies and establish a path for Revolut’s possible debut as one of the defining listings of the decade.