British money transfer firm Wise on Thursday said that it plans to move its primary listing location to the U.S., dealing a fresh blow to the London stock exchange.

Wise said in its full-year earnings statement that it will move to a dual listing, with its main listing hub shifting to the U.S. while maintaining a secondary listing in London.

“This would allow Wise’s shares to trade on both a US stock exchange and the LSE,” Wise said in its earnings announcement.

This is a developing news story and will be updated shortly.