After BitGo, Ledger tries its luck on the New York Stock Exchange

Ledger, one of the French flagships of crypto-security, wants to play in the big leagues. Its ambition is no longer limited to designing technical innovations: the company now wants to compete in the field of global finance. With explosive growth and a booming crypto market, Ledger is preparing to enter the New York Stock Exchange. A symbolic milestone for a European company which intends to prove that technological excellence can also rhyme with financial ambition.

From Paris to Wall Street: Ledger offers itself a second financial life

Founded in 2014, Ledger first built its reputation on the reliability of its hardware wallets. Today, the company wants to take a new step: an IPO in New York, supported by Goldman Sachs, Jefferies and Barclays. The operation could value the company at more than 4 billion dollarsalmost triple its last raise in 2023.

This strategic decision is part of a broader dynamic. Since Donald Trump's return to the White House, the American administration has made crypto a national strategic axis. Result: investors are flocking to crypto infrastructure companies, like BitGo, valued at more than 2 billion after its successful entry on the NYSE.

For Pascal Gauthier, CEO of Ledger, the logic is implacable:

The money is in New York today for crypto, nowhere else in the world, and certainly not in Europe.

Ledger is therefore part of this strategic migration of European companies towards American finance, ready to become the first French “crypto unicorn” listed on Wall Street.

Trust and security: Ledger’s risky but accepted bet in crypto

But Ledger's financial ambition comes with a major challenge: regaining user trust. The company has suffered several setbacks: data leak of 270,000 customers in 2020, hack of $500,000 in 2023, and breach of its service provider Global-e at the beginning of 2026. So many episodes which could have damaged its credibility. However, the opposite happened.

The crises have, paradoxically, strengthened Ledger’s legitimacy. As hacks reach $17 billion in 2025 according to Chainalysis, users are looking to regain control of their assets. Sales of crypto security devices are soaring, and Ledger posts record sales, reaching several hundred million.

Its CEO sums up this paradox by explaining that the revenues of Ledger, issuer of Nano S Plus keys, are reaching new heights, driven by the increase in piracy and by investors increasingly eager to keep control of their keys.

By riding on user fear, Ledger transforms security into a growth lever. For investors, it is a model as promising as it is risky: the more attacks increase, the more demand for Ledger products explodes.

Ledger's key figures on the eve of its IPO:

• 4 billion dollars: valuation targeted for the IPO in New York;
• $1.5 billion: valuation during the last fundraising in 2023;
• 17 billion dollars: estimated value of stolen crypto in 2025 according to Chain Analysis ;
• 270,000 customers: affected by the 2020 data breach, Ledger's first major crisis;
• 2026: planned year for IPO, marking a new era for crypto security.

Ledger does not claim to be infallible, but is taking sure steps on the already beaten crypto paths. The company wants to prove that innovation and ambition can coexist. After all, it is no coincidence that last May it launched a unique crypto card in the United States: a clear symbol of its desire to go further.