Ledger Targets U.S. IPO With Over $4 Billion Valuation as Crypto Security Demand Grows

• Ledger plans a U.S. IPO valuing the company at above $4 billion, backed by top Wall Street banks.
• Growing crypto theft is boosting demand for Ledger’s secure hardware wallets and revenues.

French crypto wallet maker Ledger is preparing for the U.S. initial public offering (IPO), which could value the company at more than $4 billion, according to The Financial Times report. The company is targeting the New York Listing and working with major Wall Street banks like Goldman Sachs and Jefferies to manage the deal. Sources are saying that the IPO could take place later in 2026, depending on the market conditions.

Pascal Gauthier, CEO of Ledger, has clearly given a statement on why the company is looking at the U.S. instead of Europe in its debut Public offering. He says, “For crypto Money is in New York. It’s nowhere else in the world, and it’s certainly not in Europe”. This reflects the broader trend of crypto companies turning to U.S. capital markets. 

Accelerated Growth Following Last Funding

Ledger was valued at $1.5 billion in 2023 during the private funding round. The potential IPO valuation of over $4 billion shows how much the company has grown in a short period of time. Company provide the self-custody wallets, which are in high demand, and institutional fear of exchange hacks is the key driver for the company’s growth. Ledger claims that it currently secures around $100 billion worth of Bitcoin.

According to the data from Chainalysis, $17 billion was stolen in crypto scams and fraud in 2025. As the hacks, phishing attacks, and wallet drainers are rapidly increasing, users are moving towards hardware wallets. This surges the demand for the Ledger and generates hundreds of millions of dollars in revenue in 2025.

Ledger’s planned U.S. listing shows a wider shift in the crypto market. If completed, IPO would place Ledger among a growing group of crypto firms and also highlight how crypto security and custody have become central to the future of the industry.  

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