The $15 bln UK moneychanger may shift its main trading venue to gain more American investors and liquidity. It could achieve similar ends by staying put and pushing for FTSE inclusion. A premium valuation suggests little upside,

That Revolut — a company that has made little dent in the US, serves 11 million customers in the UK and was started in a fintech incubator in London’s Canary Wharf neighborhood — would consider a New York listing should perhaps be the starkest warning sign for British lawmakers.

Wise's listing shift underscores years of pain. "U.K. stock market continues to take a succession of blows to the head," one expert said.