Ledger Targets $4B US IPO: Hardware Wallet Leader Signals Crypto Infrastructure Maturity

Picture this: the world's top hardware wallet maker, safeguarding over $100 billion in Bitcoin, prepares to ring the NYSE bell at a $4 billion valuation. Ledger is exploring a blockbuster US IPO, underwritten by Goldman Sachs, Jefferies, and Barclays. As @pawnie_ noted in his daily Web3 recap and @virtualbacon highlighted in top events, this move underscores surging demand for secure self-custody amid rising hacks.

Founded in 2014, Ledger has become synonymous with crypto security. Its Nano devices protect millions of users' assets, evolving from basic wallets to enterprise solutions. Fast-forward to 2023: valued at $1.5 billion. Now, reports from the Financial Times via CoinDesk reveal plans for a New York listing that triples that figure. Why the jump? 2025 delivered record revenues—triple-digit millions—fueled by crypto thefts exceeding $17 billion. Institutions and retail alike flock to hardware amid exchange hacks and phishing scares. Ledger secures $100B+ in BTC alone, positioning it as the 'Apple of crypto custody.' Heavy hitters are on board: Goldman Sachs leads underwriting, with Jefferies and Barclays. CEO Pascal Gauthier has hinted at US ambitions, citing booming wallet sales. Sure, Ledger's faced headwinds—a 2020 data breach, co-founder kidnapping last year, Recover service backlash—but demand drowns out the noise. This IPO prep follows November rumors of a listing or raise, now accelerating.

Ledger's public debut validates crypto's plumbing. Hardware wallets aren't fringe; they're essential infrastructure. Expect ripple effects: BitGo's recent NYSE launch at $2B, Kraken eyeing $20B, ConsenSys with JPMorgan. It boosts confidence in self-custody, potentially lifting wallet competitors like Trezor and driving tokenization plays. Broader markets? Maturing infra eases institutional entry, stabilizing volatility. With BTC near $90K despite ETF outflows, this counters bearish sentiment. PwC notes adoption's irreversible—Ledger's IPO proves it, signaling Wall Street's hunger for proven crypto businesses over pure speculation.

Ledger's $4B IPO path isn't hype—it's proof crypto builds enduring companies. As hacks proliferate and adoption deepens, self-sovereignty goes mainstream. Watch 2026: more listings, bolder infrastructure. If Ledger pulls it off, expect a torrent. Secure your stack—the future's public.