Crypto security firm Ledger is accelerating preparations for a potential public listing with strategic leadership changes. The company announced John Andrews, a former Circle executive, will serve as Chief Financial Officer. Andrews brings over two decades of finance experience, most recently leading capital markets at the stablecoin issuer.
Simultaneously, Ledger established a New York office backed by multi-million dollar investment to support its growing enterprise business. The firm is hiring across institutional and marketing roles to serve banks and asset managers entering the digital asset space. CEO Pascal Gauthier noted rising revenue driven by increased demand for secure storage amid frequent crypto hacks.
Reports indicate Ledger is working with major banks including Goldman Sachs and Jefferies on a listing that could value the firm at over $4 billion. This expansion mirrors broader sector trends, where firms like BitGo have recently gone public, though peers like Kraken pause plans due to market conditions.
Despite selling over 8 million devices globally, Ledger maintains a mixed track record including a 2020 data breach and 2023 ecosystem exploit.