French crypto hardware wallet manufacturer Ledger is currently evaluating the possibility of launching an initial public offering in the United States which may result in a company valuation exceeding 4 billion dollars according to a Financial Times report.
The report stated that Ledger is negotiating with three investment banks which are Goldman Sachs Barclays and Jefferies to explore the possibility of launching a US stock market listing according to unnamed sources who are familiar with the negotiation process. Ledger declined to comment on the report when contacted.
Ledger CEO Pascal Gauthier announced the company would evaluate funding options through either fundraising or a New York stock exchange listing in November 2025 because US investors provide better access to crypto capital than European investors.
Your completely free resource hub designed to boost your knowledge of cryptocurrencies
Crypto hacks fuel interest in self-custody
Founded in Paris in 2014, Ledger is one of the world’s largest makers of crypto hardware wallets. The devices function as physical storage units which keep private keys secure by storing them in offline mode. This design allows users to safeguard their digital assets against online security threats which include hacking attempts and malware.
The demand for these products has risen because the rate of crypto crime has increased. Blockchain analytics company Chainalysis reported that crypto hackers and fraudsters stole more than 3.4 billion dollars during 2025. The firm explained that last year the largest cyber attacks involved amounts which were 1,000 times greater than what hackers normally access during a security breach.
The year 2025 marked a historic peak for Ledger as the company achieved its best financial results with revenue exceeding “triple-digit millions” according to Gauthier. He issued a warning during the previous year that hackers would increasingly target both cryptocurrency and conventional financial accounts with no signs of stopping their activities.
