Ledger Considering U.S. IPO at Over $4 Billion Valuation

Ledger, a French cryptocurrency hardware wallet company, is considering an initial public offering (IPO) in the United States. Initial sources indicate a valuation exceeding $4 billion. The Paris-based company is popular for its secure cold storage devices, such as the Ledger Nano Series. 

It is reported that the company is collaborating with the leading investment banks, including Goldman Sachs, Jefferies, and Barclays, for this venture. As reported by the Financial Times, the IPO could occur in the first quarter of 2026. 

Surging Demand for Crypto Security 

The demand for crypto security has been increasing for some time. Over the years, institutional adoption has increased, boosting interest in hardware wallets. Ledger is safeguarding approximately $100 billion in Bitcoin assets for users around the globe.

Ledger CEO, Pascal Gauthier, has already signaled IPO ambitions. He said, “Me spending more time in New York is with the understanding that money is in New York today for crypto; it’s nowhere else in the world, it’s certainly not in Europe.” 

The company aims to expand in New York and improve its year-on-year financial performance. 

This IPO would mark a significant shift in the crypto market, following other firms’ public pursuits. The campaign is introduced after revenues hit triple digits in 2025, amid rising demand for custodian solutions to ward off crypto theft.