Revolut, the UK-based fintech company valued at approximately $115 billion, is exploring a dual stock market listing on the New York Nasdaq and the London Stock Exchange, according to CEO Nik Storonsky. This marks the first time the company has publicly confirmed plans for a potential dual listing, although Storonsky previously indicated that any initial public offering would not likely occur before 2028.

In an interview, Storonsky highlighted the advantages of the U.S. market, citing its greater liquidity and larger pool of institutional and individual investors compared to the UK. “It’s a larger market. It includes institutional investors, hedge funds, fund managers and a considerable number of individual investors,” he said, noting that the competition among buyers in the U.S. would benefit Revolut’s share offering.

Despite the preference for a U.S. listing, Storonsky confirmed that Revolut intends to pursue a dual listing with shares also traded in London. At its current private valuation, the company’s market capitalization would exceed those of established FTSE companies such as Barclays, BP, and GSK, positioning Revolut among the UK’s largest publicly traded firms.

Revolut’s consideration of a London listing represents a shift from Storonsky’s earlier skepticism. Previously, he criticized the London Stock Exchange for stamp duties imposed on investors and questioned its competitiveness relative to U.S. exchanges. In 2023 and 2024, Storonsky expressed doubts about the value of a London listing and voiced frustration with British regulators, pointing to delays in acquiring a full UK banking license and concerns about the company’s control and risk management systems during the approval process.

Founded in 2015, Revolut has grown to become Europe’s largest fintech, serving some 80 million customers across approximately 30 countries. The potential dual listing comes as British government officials have been actively encouraging the company to list in London, amid a broader challenge to attract new public offerings to the UK market.

Separately, Revolut disclosed this week that it had not received any direct contact or ransom demands following claims by a hacking group known as “innovativallin” of a data breach affecting hundreds of its customers. The group reportedly threatened to sell stolen confidential data unless paid a $3 million ransom, though the company has yet to verify these claims or confirm any breach. Revolut is continuing to investigate the matter.