French cryptocurrency hardware wallet maker Ledger is preparing for an initial public offering in the United States, potentially as soon as this year. The company, valued at $1.5 billion in 2023, could reach over $4 billion in the IPO, according to reports citing unnamed sources. CEO Pascal Gauthier has emphasized the appeal of New York as a hub for crypto investments.
Ledger, a French firm specializing in hardware wallets for secure cryptocurrency storage, is advancing plans for a US initial public offering (IPO). The company is collaborating with bankers and may launch the IPO this year, as reported by the Financial Times on January 22, citing anonymous sources. While the plans remain subject to change, Ledger did not respond to requests for comment.
In November, CEO Pascal Gauthier indicated interest in a US listing, stating, “Money is in New York today for crypto, it’s nowhere else in the world, it’s certainly not in Europe.” Ledger's devices allow users to store private keys offline, protecting against online hacks, and are non-custodial, giving owners full control over their assets.
The company's growth has been fueled by rising cybersecurity demands amid increasing crypto thefts. Gauthier noted in November that a surge in hacks had driven revenues to triple-digit millions, explaining, “the realization that hackers are getting more aggressive and so you need to upgrade your security.” Blockchain analytics firm Chainalysis reported over $3.4 billion in crypto thefts from January through early September, with a notable rise in personal wallet compromises.
Ledger raised funds through a Series C extension in March 2023 to expand access to its products for millions of digital asset users. That August, it partnered with PayPal, enabling purchases via the Ledger app with automatic transfers to hardware wallets.
This potential IPO underscores shifting dynamics in the crypto sector, where security solutions gain prominence amid persistent threats.
