Ledger Plans $4B US IPO as Demand for Secure Crypto Storage Soars

TLDR

• Ledger is preparing for an initial public offering in the United States with a target valuation of over $4 billion.
• The company is collaborating with major banking firms including Goldman Sachs, Barclays, and Jefferies for the IPO process.
• Ledger’s valuation has increased significantly from $1.5 billion in 2023 to $4 billion in its latest filing.
• The firm reported record revenue in 2025, driven by increasing demand for secure crypto storage solutions amid rising thefts.
• Ledger’s hardware wallets are popular for providing secure, offline storage for digital assets, making them a preferred choice for users and institutions.

Ledger, a leading crypto hardware wallet provider, is preparing for an initial public offering (IPO) in the United States. The firm aims to debut on Wall Street with a valuation exceeding $4 billion. This move follows growing demand for secure crypto storage solutions, especially amid rising concerns over crypto hacks.

Ledger’s IPO and Wall Street Debut

Ledger, headquartered in Paris, is one of the largest players in the crypto hardware wallet market. The company is collaborating with top banking firms, including Goldman Sachs, Barclays, and Jefferies, to execute its plans for the IPO. According to recent reports, Ledger intends to launch the offering in the U.S. market, where crypto capital is increasingly concentrated.

Ledger’s valuation has surged to $4 billion, up from $1.5 billion in 2023, following a successful funding round. CEO Pascal Gauthier highlighted in a recent interview that the company is having a record year with revenues in the “hundreds of millions.” The increasing demand for secure crypto storage is largely driven by the rise in digital asset thefts, with over $17 billion stolen in 2025 alone.

Growing Demand for Ledger’s Secure Crypto Solutions

The surge in crypto hacks has created a growing need for more secure storage methods. Ledger’s hardware wallets offer a safe alternative for crypto holders, as they allow users to store their assets offline and control their keys. This has made Ledger’s products increasingly popular among both individual users and institutional investors.

Ledger’s business has shown strong momentum, with the company securing over $100 billion in Bitcoin for its customers. As crypto investors shift focus from speculation to long-term asset protection, Ledger’s growth is expected to continue. The launch of its Bitcoin rewards feature, in partnership with Lombard and Figment, further strengthens the company’s position in the market.

US Listings and Crypto Firms Racing to Go Public

Ledger’s IPO comes amid a broader trend of crypto firms seeking to go public in 2026. Companies like Kraken, ConsenSys, and BitGo are also preparing for U.S. listings, with some aiming for valuations reaching billions. Ledger’s move to join the ranks of major crypto companies listing on Wall Street further signals the maturation of the sector.

As the crypto market matures, investors are focusing more on the infrastructure side, especially companies like Ledger that provide essential security services. With demand for secure storage increasing, Ledger is well-positioned to capitalize on this trend.

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