Ledger Explores New York IPO or Fundraising Round

Crypto hardware wallet provider Ledger eyes public listing or private financing amid record revenues

Ledger, the crypto hardware wallet company managing roughly $100 billion in bitcoin for its clients, is reportedly considering a New York IPO or an alternative private funding round next year, according to the Financial Times.

CEO Pascal Gauthier told the FT that he has been spending more time in New York because, in his view, “money is in New York today for crypto; it’s nowhere else in the world, certainly not in Europe.”

The potential fundraising plans follow a year of triple-digit million revenues, driven by soaring demand for secure custody solutions amid rising crypto thefts. “We’re being hacked more and more every day—your bank accounts, your crypto—and it’s not going to get better next year or the year after,” Gauthier said.

Ledger was last valued at $1.5 billion in 2023 during a funding round that included investors such as 10T Holdings and Singapore’s True Global Ventures. The company continues to manage $100 billion worth of bitcoin on behalf of its clients.