Ledger, the French cryptocurrency hardware wallet provider, is contemplating a New York listing as it experiences a surge in revenue, driven by increasing demand for its security devices amid a rise in cyberattacks. According to the Financial Times, the company's revenue has soared into the triple-digit millions in 2025.

Pascal Gauthier, Ledger's CEO, stated that the company is having its best year yet as both individuals and companies seek to protect their digital assets from increasingly sophisticated hackers. He noted the increasing frequency of hacking attempts on bank accounts and crypto holdings, expressing concern that this trend will continue.

The surge in Ledger's business coincides with a record year for cryptocurrency-related thefts. In the first half of 2025, hackers stole $2.2 billion worth of digital assets, exceeding the total for all of 2024. Chainalysis reports that approximately 23% of these attacks targeted individual wallets.

Ledger currently secures around $100 billion worth of Bitcoin for its customers. The company anticipates further gains from seasonal sales events like Black Friday and Christmas. Ledger is considering raising funds next year through either a private round or a U.S. listing. The company is also expanding its New York headcount, as Gauthier believes that New York is currently the center of the crypto world.

While Ledger faces competition from companies like Trezor and Tangem, which also offer "cold storage" wallets, it remains a prominent player in the market. In 2023, Ledger was last valued at $1.5 billion, with backing from 10T.