Ledger, a French crypto {hardware} pockets supplier, is reportedly planning an preliminary public providing (IPO) in the USA.
The transfer would place Ledger amongst a rising group of digital asset corporations pursuing public listings within the US amid a good regulatory atmosphere.
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Crypto Pockets Maker Ledger Considers US IPO
In accordance with the Monetary Occasions, 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 is able to signify a major enhance from Ledger’s $1.5 billion valuation in 2023, following a funding spherical backed by traders together with True World Ventures and 10T Holdings. The FT, citing sources conversant in the matter, stated the IPO might happen as early as this yr.
Nonetheless, 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 steered the corporate was contemplating future fundraising choices. This included a public itemizing in New York or a personal funding spherical.
“Cash is in New York at present for crypto, it’s nowhere else on the earth, it’s definitely not in Europe,” he acknowledged.
The potential itemizing comes as the corporate sees robust income development. Gauthier revealed that Ledger’s revenues reached triple-digit hundreds of thousands as of November 2025.
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This shift was possible pushed by a significant rise in crypto hacks. As crypto-related crime continues to extend, extra traders have turned to {hardware} wallets to guard their belongings.
In accordance with estimates from Chainalysis, crypto scams and fraudulent exercise might have resulted in additional than $17 billion in losses in 2025.
Nonetheless, the announcement has drawn criticism from crypto investigator ZachXBT. He raised considerations 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 clients personal information being leaked has result in focused thefts and hundreds of thousands stolen. Present 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 asserting they may even cost a % for clear signing,” he wrote.
Earlier this month, BeInCrypto reported that Ledger skilled an information breach through which buyer data was uncovered via a third-party processor, World-e. The corporate had beforehand suffered a separate safety incident in 2020 that additionally resulted within the publicity of buyer information.
In the meantime, 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 Inventory Change on January 22, pricing its shares at $18.
The inventory opened 24.6% increased at $22.43, valuing BitGo at roughly $2.2 billion. This follows a wave of crypto listings in 2025, when Circle, Determine Expertise, Gemini, and Bullish went public. Grayscale and Kraken have additionally filed for IPOs.