Quick take:
- People familiar with the matter cautioned that the plans could still change, according to the Financial Times.
- Ledger offers cold wallet storage devices, enabling crypto users to store private keys off-chain.
- Founded in 2014 in Paris, Ledger was valued at $1.5 billion in 2023 after raising funds from the likes of Singapore’s True Global Ventures and 10T Holdings.
Cryptocurrency security company Ledger, the developers of the popular cold storage crypto wallet by the same name, is reportedly going public in an IPO that could value it at more than $4 billion.
According to the report by the Financial Times, the French cryptocurrency company is reportedly already working with bankers from bankers at Goldman Sachs, Jefferies, and Barclays on the deal, which could happen as early as this year. However, people familiar with the matter have cautioned that the plans could still change.
Founded in 2014 in Paris, the company was valued at $1.5 billion in 2023 after raising funds from the likes of Singapore’s True Global Ventures and 10T Holdings.
Ledger is renowned for its cold wallet storage devices, which enable crypto users to store private keys (a set of unique, secret, alphanumeric codes, often represented as 12-24 word seed phrases) off-chain.
The report comes just a day after crypto custody services and infrastructure company BitGo raised $213 million in an IPO at a valuation of $2 billion.
Cryptocurrency companies have, over the past year, expanded their fundraising strategies to include public listing in US stock markets, with the success stories of the likes of eToro, Circle Internet Group, Gemini, and Figure Technology Solutions among those that made headlines last year.
However, activity slowed in the fourth quarter of 2025, amid a bearish crypto market, before BitGo’s 2026 curtain-raiser.
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