Crypto Wallet Maker Ledger Tarobtains $4B Wall Street Debut

Key Highlights

Ledger is planning a possible NYSE listing that could value the company at over $4 billion.
The French firm creates hardware wallets that let utilizers store crypto offline, supporting protect them from online hacks.
The shift follows a record year for Ledger, with strong sales driven by rising concerns about crypto theft and fraud.

Ledger, the French company known for its hardware wallets that support people securely store cryptocurrencies, is planning a possible listing on a U.S. stock exalter that could value the business at over $4 billion.

According to the Financial Times, the French “unicorn” has engaged Goldman Sachs, Jefferies, and Barclays to explore a 2026 listing on the New York Stock Exalter (NYSE). The listing could take place as soon as this year, although the plans are still at an early stage and could alter.

The shift signals a major pivot for the company, which seeks to capitalize on a record-breaking year where global crypto theft reached a staggering $17 billion.

Ledger’s CEO, Pascal Gauthier, has previously stated that the U.S., particularly New York, is where the money for crypto companies is concentrated.

“Money is in New York today for crypto, it’s nowhere else in the world, it’s certainly not in Europe,” he notified the FT last year, reflecting the growing preference for U.S. listings among European crypto startups.

Founded in 2014, Ledger designs tiny devices that resemble USB drives. These allow utilizers to store their cryptocurrencies offline, reducing exposure to online hacks. The company was last valued at $1.5 billion in 2023, after raising money from investors including True Global Ventures and 10T Holdings.

Demand rises as hacks increase

Ledger’s IPO ambitions come after what it describes as a record year for the business. Gauthier notified the FT that revenues have reached the “triple-digit millions,” driven by growing demand from investors worried about the safety of their digital assets.

Those concerns have been fueled by a sharp rise in crypto-related crime. According to research firm Chainalysis, around $17 billion was lost to crypto scams and fraud last year, up from about $13 billion the year before.

High-profile hacks, exalter collapses, and phishing attacks have pushed more utilizers to see for ways to hold their assets outside online platforms.

The broader market environment has also turned more supportive. Several digital asset companies have already listed, or are in the process of listing, on U.S. exalters. These include crypto custodian BitGo, stablecoin issuer Circle, and exalters Gemini and Bullish. Their shifts reflect renewed confidence that public investors are once again willing to back crypto-related businesses.

For Ledger, a New York listing would mark a major step in its evolution from a startup hardware creater into a global crypto infrastructure company, while highlighting how security has become one of the most important parts of the digital asset indusattempt.