Key Notes
- For its crypto IPO, Ledger has partnered with banks including Goldman Sachs, Barclays, and Jefferies.
- Ledger CEO Pascal Gauthier has pointed to stronger US capital markets and record revenue.
- Recently, the company also introduced new offerings like Bitcoin rewards via partnerships with Lombard and Figment.
In the latest move, crypto wallet Ledger is planning for an initial public offering (IPO) in the US market, with plans to debut on Wall Street at $4 billion valuation. The company is reportedly working with banking giants like Goldman Sachs, Barclays, and Jefferies to proceed with its plans. This announcement comes amid BitGo’s IPO going live on the New York Stock Exchange (NYSE), with BTGO stock trading at $18.5.
Ledger Joins the Crypto IPO Bandwagon
Crypto firm Ledger is popular for its hardware wallets, allowing users to store and secure their digital assets. The Paris-based crypto firm was valued at $1.5 billion in 2023 following a funding round backed by investors including Singapore’s True Global Ventures and 10T Holdings.
Now, the valuations stand nearly 3 times at $4 billion as per the current filing. Speaking to the Financial Times, Ledger CEO Pascal Gauthier said in November that the Paris-based crypto hardware wallet maker was considering a US listing.
He argued that capital for the sector is increasingly concentrated in New York rather than Europe. This comes amid the crypto-friendly policies from the Trump administration.
Gauthier said the company was having a record year, with revenue reaching the “hundreds of millions”. This is due to the rising demand from crypto users amid a sharp surge in crypto hacks.
Earlier this month, crypto wallet Ledger announced its partnership with Lombard and Figment to launch a Bitcoin rewards feature, allowing users to earn yield. The company said the feature integrates Bitcoin into DeFi through Lombard and Figment.
Users can do this without handing over the custody while keeping complete control over their assets. Ledger added that the functionality is now live in the Ledger Wallet app.
Crypto Firms Rush to Wall Street
For further capital raise and user participation, crypto firms are rushing to Wall Street. Several major firms, such as Kraken, ConsenSys, BitGo, and Animoca Brands, are reportedly exploring listings in 2026.
Reports suggest Kraken is aiming for a valuation near $20 billion, ConsenSys around $7 billion, and BitGo roughly $1.75 billion.
Last year in 2025, Circle, Figure Technology, Gemini, and Bullish dominated some of the most high-profile crypto IPOs in the market. This shows a gradual maturation of the sector after years of volatility and regulatory uncertainty.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
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