French crypto {hardware} pockets supplier Ledger is planning an preliminary public providing (IPO) in the US, which can worth the corporate at greater than $4 billion.
Ledger is in talks with bankers at Goldman Sachs, Jefferies and Barclays a few potential US itemizing, the Monetary Occasions reported Friday, citing individuals accustomed to the matter.
In November 2025, Ledger CEO Pascal Gauthier mentioned the corporate was planning fundraising or an inventory in New York, noting that cash for crypto was “actually not in Europe.”
If confirmed, the IPO talks would underscore rising demand for crypto storage options amid a surge in crypto hacks, with over $3.4 billion stolen in 2025, based on Chainalysis.
Ledger posts document yr amid rising crypto hacks
Based in Paris in 2014, Ledger is without doubt one of the largest makers of crypto {hardware} wallets — bodily, USB-like gadgets that retailer non-public keys offline to assist shield holdings from on-line hacks and malware.
Towards this backdrop of accelerating crypto theft, Ledger had a document yr in 2025, with income hitting “triple-digit thousands and thousands.”
“We’re being hacked increasingly more each day […] hacking of your financial institution accounts, of your crypto, and it’s not going to get higher subsequent yr and the yr after that,” Ledger CEO Gauthier mentioned in late 2025.
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Ledger declined to substantiate the report a few potential US IPO when contacted by Cointelegraph.
The FT’s report got here a day after BitGo, one of many world’s largest crypto custody suppliers, went public on the New York Inventory Alternate on Thursday.
In accordance to NYSE knowledge, BitGo shares (BTGO) opened at $22.40, or 24% up from the IPO worth of $18, surging to as excessive as $24.50 on the primary day of buying and selling.
YZi Labs, a enterprise capital firm linked to the previous Binance CEO Changpeng Zhao, subsequently introduced a strategic funding in BitGo’s IPO.
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