Hardware Wallet Maker Ledger Eyes New York IPO

Ledger, the Paris-based hardware wallet maker, is considering a New York listing or a private fundraise next year amid soaring demand for crypto security. CEO Pascal Gauthier told the Financial Times that capital for crypto “is in New York today.”

Ledger is on track for record 2025 revenues in the triple-digit millions, securing around $100 billion in customer crypto assets. The firm competes with Trezor and Tangem in a market shaped by rising security breaches, which have already cost investors $2.17 billion this year.

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