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.

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.

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.