Ledger explores US IPO that could exceed $4 billion in value, engaging major banks

On January 23, 2026, Ledger, the Paris-based hardware wallet company, began preparing for a potential US IPO that may value it at over $4 billion, according to people familiar with the discussions. The firm is working with Goldman Sachs, Jefferies, and Barclays, and is considering a listing as early as this year.