Ledger is poised to initiate a potential initial public offering (IPO) in the United States, with estimates suggesting the company”s valuation could exceed $4 billion. This French firm, recognized for its innovative crypto security solutions, is collaborating with major investment banks such as Goldman Sachs, Jefferies, and Barclays to facilitate the listing, which may occur as early as this year.
The company”s previous valuation stood at approximately $1.5 billion in 2023, following a successful funding round led by True Global Ventures and 10T Holdings. Should Ledger”s IPO materialize, it would significantly enhance its market position and reinforce its role as a critical infrastructure provider within the digital asset landscape.
Investor Interest in Crypto Security Firms
The move towards an IPO is indicative of a broader resurgence in investor interest in crypto-related companies, particularly those focused on regulated and security-oriented services. The recent shift towards a pro-crypto administration in the United States has propelled many digital asset firms to seek public listings in the US, attracted by the promise of greater liquidity and institutional demand compared to European markets.
Ledger”s ambitions come in the wake of other successful crypto listings, including the recent debut of BitGo on the New York Stock Exchange as the first crypto IPO of 2026. Notable firms such as Circle, along with exchanges like Gemini and Bullish, also went public in the US in the previous year, marking a significant shift in the capital markets” openness to crypto enterprises.
Surging Demand for Self-Custody Solutions
Ledger”s growth trajectory is firmly supported by its strong operational performance, with revenues reported in the hundreds of millions of dollars. The increasing prevalence of cybercrime, which resulted in billions of dollars lost due to crypto-related scams and hacks last year, has propelled demand for self-custody solutions.
According to findings from Chainalysis, these security concerns have intensified the market”s appetite for secure storage options. Ledger”s leadership has previously expressed that the US is currently the most attractive market for crypto investment, a sentiment increasingly mirrored in the listing strategies of major digital asset firms.
As Ledger navigates the path toward a potential IPO, it stands to not only enhance its valuation but also to fortify its position as a significant player in the evolving landscape of cryptocurrency security.
