Revolut Group, the UK-based fintech company, is set to open talks with the UK Treasury as the government aims to improve London's appeal for a potential initial public offering (IPO).
Despite securing a critical UK banking license last month, Revolut continues to prioritise a potential listing on the Nasdaq market in the United States, according to reports by the Financial Times.
The UK banking licence, which comes with temporary restrictions, permits Revolut to hold deposits and increase lending within the country.
This development is expected to boost the company's chances of obtaining a similar licence in the US.
City minister Tulip Siddiq is scheduled to meet with representatives from the neobank this autumn as part of a broader series of discussions with businesses.
These talks will likely cover Revolut's listing plans as well as other issues concerning financial services and the City.
Revolut is currently valued at approximately US$45 billion after selling up to US$500 million worth of existing shares, making it one of the most valuable fintech companies in the UK.
Despite the potential benefits of a home listing, Nikolay Storonsky, Revolut’s co-founder, previously said: "The London Stock Exchange is much less liquid so I just don’t see the point."
Revolut has also been actively engaging with UK politicians, including attending a Labour Party event last year where they discussed economic and regulatory plans with key political figures.