- Ledger plans a US IPO next year to attract more investors and grow its presence in New York.
- Ledger currently manages $100 billion of bitcoin and achieved record revenues in 2025.
- Rising crypto thefts drive demand for Ledger wallets and new security features worldwide.
French crypto Hardware wallet manufacturer Ledger is looking at an IPO or a private round within the U.S. next year. The change can be linked to the growing interest of investors in crypto infrastructure in New York. The company has been expanding its presence in the city to attract potential backers. Ripple recently collaborated with Mastercard, Gemini, and WebBank to pilot RLUSD stablecoin for credit card payments on XRP Ledger.
Ledger’s CEO emphasized that capital for crypto remains concentrated in the United States, particularly in New York. The company achieved record revenues in 2025, hitting triple-digit millions, driven by growing demand for secure crypto custody solutions.
Custody of $100 Billion Bitcoin
Ledger handles approximately $100 billion of bitcoin on behalf of its clients all over the world. In a 2023 funding round, the firm was estimated to be worth $1.5 billion. Investors were 10T Holdings and Singapore based True Global Ventures.
Ledger’s strong performance marks its highest revenue year to date. The firm continues to expand its offerings, including an iOS app for enterprise users and native support for the TRON blockchain.
Rising Threats Drive Demand for Security
The surge in digital thefts has increased reliance on secure storage solutions. Hackers had looted more than 2024 thefts, stealing $2.17 billion in crypto assets during the first half of 2025. Just recently, hackers exploited a vulnerability in Balancer’s V2 pools, causing over $120 million in losses . Cold storage wallets such as Ledger, Trezor and Tangem are becoming popular among retail and institutional investors.
The company also released a new multisig wallet feature, although it received mixed feedback regarding transaction fees. In addition to internet threats, physical security threats have been brought to the fore by the attacks on the Ledger personnel. In early 2025, one of its founders was abducted in France, and the ransom demanded by the attackers was a crypto ransom.
Crypto Crime Trends Intensify
As of 2024, the illicit cryptocurrency activity amounted to $40.9 billion, which still increases. Hacks contributed to the value of stolen assets of $2.2 billion alone, which is 21% higher than in the previous year. The groups associated with North Korea, including Lazarus and Tradetraitor, carried out more than 60% of the major thefts, including the $300 million DMM Bitcoin breach. In February, Lazarus Group stole $1.4 billion from Bybit using test transactions and linked wallets in a major crypto hack.
Frauds, AI-powered romance, drug trafficking, and violent crimes are among the crimes that criminals are committed to by using crypto. The last ones are an attempted kidnapping in Paris associated with a crypto executive. These threats strengthen the growth of Ledger, as the company enhances its role in protecting digital wealth.
