French hardware wallet manufacturer Ledger is reportedly preparing for an initial public offering (IPO) in the United States, with estimates placing its valuation at over $4 billion. This move aligns with increasing interest in secure cryptocurrency storage due to the ongoing vulnerabilities and hacks in the crypto space.

According to information shared by the Financial Times, Ledger is currently engaging in discussions with investment firms including Goldman Sachs, Jefferies, and Barclays for this potential listing. Gauthier indicated back in November 2025 that the company had intentions of either raising capital or pursuing a public listing in New York, while criticizing the European market for cryptocurrency investments, stating, “money for crypto was certainly not in Europe.”

The rise in hacking incidents has attracted attention to solutions for secure crypto storage, underscored by the fact that over $3.4 billion was lost to hacks in 2025, according to Chainalysis.

Ledger Sees Significant Growth Amid Rising Hacks

Founded in 2014 in Paris, Ledger is a leading developer of hardware wallets—devices that physically store private keys offline to safeguard cryptocurrency from malicious online attacks. In light of the spiking instances of crypto theft, Ledger reported a record year in 2025, achieving revenue in the “triple-digit millions.”

Gauthier remarked on the increasing threat of hacking, expressing concern that cyber threats to bank accounts and crypto holdings are intensifying and will not decline in the coming years. Ledger, however, has yet to formally confirm the reports surrounding its IPO plans. The timing of this news coincides with BitGo’s recent public listing on the New York Stock Exchange, increasing momentum in the sector.