- Key insights: Wise debuted on the Nasdaq stock exchange Monday as it officially moves its primary listing from London to New York.
- What's at stake: Wise is hoping its listing on the Nasdaq will bring it greater visibility in the U.S. market, one of the regions with the largest growth potential.
- Forward look: Wise will maintain its listing in the U.K. as a secondary exchange.
Wise rang the opening bell at the Nasdaq Stock Exchange Monday, finalizing its
"A listing in the U.S. not only gives us better access to the world's deepest and most liquid capital market, it also more closely aligns Wise with the major growth potential for us in the U.S. 一 the biggest market opportunity for our products in the world today," David Wells, chair at Wise, said in a statement.
The company will maintain its listing in London as a secondary exchange. Wise has about 19 million customers globally and pushed $242 billion in payments in its 2026 fiscal year ended March 31, a 31% increase over last year. Millions of those customers reside in the U.S., according to the company.
Today's debut ends a nearly yearlong process to migrate its listing. The payments fintech first said that it wanted to move its primary listing to
Wise has been making investments in the U.S. market. In September it
William Blair analyst Cristopher Kennedy is bullish on Wise, he said in a research note.
"Wise is not trying to reinvent money; rather, it is capturing this opportunity by reimagining the correspondent banking industry via a proprietary global network that leverages existing infrastructure but eliminates intermediaries and improves payment speed and visibility while reducing costs," Kennedy said. "The cross-border payments market is massive, fragmented and complex, thus it can support multiple winners."
Wise's cross-border volume has grown at a 31% compound annual rate between its fiscal 2019 and fiscal 2026, according to William Blair, with volume spread 70% to 30% for consumer and small-business payments, respectively.
Wise will host a presentation on Tuesday that will cover preliminary estimates of its full-year 2026 U.S. GAAP financial data. In addition to the 31% increase in cross-border volume, Wise said that customer holdings were up 40% year over year to $39 billion, with $9 billion of that in Wise Asset holdings, its investment platform.
Transaction revenue landed at $1.9 billion, an increase of 22% compared to the same period last year. Cross-border revenue rose 17% to $1.3 billion and card and other revenue increased 34% to $600 million. Card spend ratcheted up 37% to $44 billion, and net revenue landed at $2.5 billion, an increase of 19%.
"We view Wise's approach as a self-reinforcing flywheel: more cross-border volume drives scale benefits and gross profit dollars, which are systematically reinvested in the product, technology, infrastructure, marketing, and price, all of which drive more volume," Kennedy said.
