Ledger Explores IPO or Fundraising Options in New York: Sources

Ledger Weighs New York IPO or Private Fundraising

Crypto wallet firm Ledger considers public listing or capital raise amid strong growth

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

CEO Pascal Gauthier said he is spending more time in New York because “money is in New York today for crypto; it’s nowhere else in the world, certainly not in Europe.”

The potential capital raise follows a record year for Ledger, with triple-digit million revenues fueled by increasing demand for secure crypto custody amid a rise in 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 noted.

Ledger was last valued at $1.5 billion in 2023, during a funding round that included 10T Holdings and Singapore’s True Global Ventures. The company continues to oversee $100 billion in bitcoin for its customers.