French hardware wallet designer Ledger has hired investment banks for an initial public offering (IPO) in the United States that could value the business at more than $4 billion, according to reporting from the Financial Times.
The listing could take place as soon as this year, though specific timing remains subject to change.
The FT reports Ledger selected Goldman Sachs, Jefferies, and Barclays to manage the transaction. Ledger is one of the most popular crypto hardware devices that enables cryptocurrency investors to self-custody funds.
Founded in 2014, Ledger last raised major funding in 2023 in a deal vaulting them at $1.5 billion.The firm joins a broader wave of cryptocurrency firms entering public markets. Custodian BitGo listed on the New York Stock Exchange (NYSE) this week, raising $212 million at a $2.1 billion valuation as the first major industry listing of 2026. Stablecoin issuer Circle and exchanges Gemini and Bullish all completed listings in the United States last year.
