Ledger Eyes $4B+ U.S. IPO as Crypto Hardware Demand Surges
French hardware wallet Maker Ledger is exploring a U.S. public listing that could value the firm above $4 billion, nearly triple its 2023 private market valuation. Goldman Sachs, Barclays and Jefferies are advising on the potential New York offering, which CEO Pascal Gauthier calls the logical capital hub for crypto. No timeline is set, but sources suggest a 2026 target.
The MOVE follows Ledger's 2023 $1.5 billion valuation backed by Singapore's True Global Ventures and 10T Holdings. Gauthier's bet reflects a broader institutional pivot - where crypto infrastructure providers now command Silicon Valley-like multiples as digital asset adoption accelerates globally.