Ledger To Turn Crypto Security into Wall Street Gold in $4 Billion IPO

Ledger, a French crypto {hardware} pockets supplier, is reportedly planning an preliminary public providing (IPO) in the United States.

The transfer would place Ledger amongst a rising group of digital asset firms pursuing public listings in the US amid a positive regulatory atmosphere.

Crypto Wallet Maker Ledger Considers US IPO

According to the Financial Times, Ledger has engaged funding banks Goldman Sachs, Jefferies, and Barclays to discover a possible itemizing that might worth the corporate at greater than $4 billion.

This would symbolize a major improve from Ledger’s $1.5 billion valuation in 2023, following a funding spherical backed by buyers together with True Global Ventures and 10T Holdings. The FT, citing sources conversant in the matter, mentioned the IPO might happen as early as this yr.

Still, the plans stay topic to vary. BeInCrypto additionally reached out to Ledger, however they declined to touch upon the matter.

Ledger has beforehand signaled its curiosity in tapping US capital markets. In November 2025, CEO Pascal Gauthier urged the corporate was contemplating future fundraising choices. This included a public itemizing in New York or a personal funding spherical.

“Money is in New York right now for crypto, it’s nowhere else in the world, it’s actually not in Europe,” he stated.

The potential itemizing comes as the corporate sees robust income progress. Gauthier revealed that Ledger’s revenues reached triple-digit thousands and thousands as of November 2025.

This shift was probably pushed by a serious rise in crypto hacks. As crypto-related crime continues to extend, extra buyers have turned to {hardware} wallets to protect their assets.

According to estimates from Chainalysis, crypto scams and fraudulent exercise might have resulted in greater than $17 billion in losses in 2025.

Nonetheless, the announcement has drawn criticism from crypto investigator ZachXBT. He raised issues over Ledger’s previous safety incidents and product points.

“Ledger, a French safety firm has been breached a number of occasions which resulted in its prospects non-public knowledge being leaked has result in focused thefts and thousands and thousands stolen. Current merchandise have main subject just like the battery for the Ledger Nano X. Now Ledger plans to max extract extra through US IPO after not too long ago saying they can even cost a % for clear signing,” he wrote.

Earlier this month, BeInCrypto reported that Ledger skilled an information breach in which buyer data was uncovered by a third-party processor, Global-e. The firm had beforehand suffered a separate safety incident in 2020 that additionally resulted in the publicity of buyer knowledge.

Meanwhile, Ledger’s plans come shortly after BitGo’s debut as the primary main crypto IPO of 2026. The crypto custody agency listed on the New York Stock Exchange on January 22, pricing its shares at $18.

The inventory opened 24.6% greater at $22.43, valuing BitGo at roughly $2.2 billion. This follows a wave of crypto listings in 2025, when Circle, Figure Technology, Gemini, and Bullish went public. Grayscale and Kraken have also filed for IPOs.

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