London’s beleaguered stock market is losing its grip on a “fabulous” fintech listing and others may follow.

LONDON—British payments company Wise said it plans to move its main stock listing to the U.S., in the latest blow to European markets that have experienced a wave of defections. The details The financial-technology company specializes in cross-border transfers.

Shares in Wise PLC spiked almost 10% on Thursday after the global payments solutions provider announced it would be transferring its primary listing from the London Stock Exchange to the U.S.