Ledger prepares for IPO in the US with a valuation potentially exceeding $4 billion

According to the Financial Times, hardware wallet manufacturer Ledger is working with Goldman Sachs, Jefferies, and Barclays to prepare for an IPO in the US, which could take place as early as this year and value the company at over $4 billion.

Ledger was founded in 2014 and is headquartered in France. In 2023, the company was valued at approximately $1.5 billion. CEO Pascal Gauthier stated that Ledger is experiencing a record year in revenue and demand, amid a sharp increase in hacking and scam risks in the cryptocurrency sector.

The surge in cyberattacks and asset losses has led many investors to switch to using (self-custody) storage devices to protect private keys. This has resulted in rapid growth in hardware wallet sales, strengthening Ledger’s position as one of the leading security solution providers in the cryptocurrency industry.