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.

Wise Plc is planning to list its shares in the US, the latest blow to London’s stock market.While the fintech will maintain a secondary listing on the London Stock Exchange, the US will be its primary listing venue,