French hardware wallet giant Ledger is reportedly exploring a blockbuster Initial Public Offering (IPO) in the United States, with a potential valuation soaring past $4 billion. This strategic move, first reported by the Financial Times citing informed sources, underscores the burgeoning demand for robust digital asset security and self-custody solutions.
Ledger is said to be engaging with leading investment banking advisors, including Goldman Sachs, Barclays, and Jefferies, to orchestrate the potential listing. While plans are still in their nascent stages and remain subject to market conditions and other variables, an IPO could materialize as early as this year, marking a significant milestone for the cryptocurrency security sector.
The prospect of Ledger going public in the U.S. isn’t entirely new. As far back as last November, Ledger CEO Pascal Gauthier hinted at the company’s considerations for either an IPO or a private fundraising round in New York. Gauthier emphasized the escalating need for self-custody solutions, driven by a noticeable increase in cybersecurity risks within the burgeoning cryptocurrency market. He also revealed Ledger’s impressive financial trajectory, projecting 2025 revenues to reach hundreds of millions of euros, highlighting the company’s strong performance amid rising market volatility.
This potential IPO valuation represents a remarkable leap for the company. Ledger’s last fundraising round in 2023 saw it valued at $1.5 billion, with notable institutional backing from investors like Singapore’s True Global Ventures and 10T Holdings. Should the company successfully list at a $4 billion valuation, it would signify an astounding 167% increase in its market worth in less than three years, further solidifying its position as a dominant player in the digital asset security landscape and reflecting increasing investor confidence in the sector’s long-term growth.
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