Is Ledger Finally Launching an IPO? Here’s What We Know

Ledger, a hardware wallet provider, has gotten a step closer to launching an initial public offering (IPO) in the United States. Earlier today, the company launched its new office in New York, which will be celebrated on March 23rd.

Alongside the U.S. expansion, Ledger has appointed John Andrews, a former Circle executive, as its Chief Financial Officer (CFO). According to the announcement, Andrews will “play a pivotal role in Ledger’s U.S. expansion.”

Ledger Enters the U.S.

The hardware wallet provider explained that the New York office is backed by a multi-million-dollar investment. It will aid the growth and establishment of the Ledger Enterprise. This is an infrastructure platform that will provide institutional clients with access to digital assets. Its target audience includes banks and asset managers.

Ledger will employ talents for marketing and institutional roles to develop its enterprise business.

While at it, the company intends to employ artificial intelligence (AI) and its renowned security infrastructure to serve its audiences.

Reiterating the essence of the enterprise business, Ledger’s CEO Pascal Gauthier, said:

“Institutions today require the cryptographic certainty that only Ledger can provide. With Ledger Enterprise Multisig and Ledger Enterprise Tradelink, we’re equipping banks and asset managers with the tools to govern and trade digital assets with total control.”

Wen IPO?

Since January, reports have circulated about Ledger’s plan to pursue an IPO this year at a valuation exceeding $4 billion.

According to individuals familiar with the matter, the firm has begun engagements with renowned U.S. banks, including Goldman Sachs, Jefferies, and Barclays, to go public on the New York Stock Exchange (NYSE).

By launching a New York office and an enterprise subsidiary, the hardware wallet provider positions itself in a way that makes it easier to secure an IPO listing.

If successful, Ledger would join a slew of crypto-focused companies that have successfully gone public in the U.S. to expand their tentacles into the traditional financial market. These include Coinbase (COIN), Circle (CRCL), and American Bitcoin (ABTC).

Meanwhile, Kraken’s parent firm, Payward, recently paused its IPO plans amid a recent decline in overall crypto market performance.

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