Crypto wallet maker Ledger taps former Circle exec as CFO to help lead IPO push
The crypto security firm is expanding its U.S. footprint and strengthening its leadership team as it prepares for a potential public listing.
By Helene Braun, AI Boost|Edited by Stephen Alpher Mar 20, 2026, 1:57 p.m.
Make us preferred on Google
What to know:
- Ledger has hired former Circle executive John Andrews as chief financial officer and opened a New York office as it expands its U.S. footprint ahead of a potential public listing.
- The New York hub, backed by a multi-million-dollar investment, will focus on enterprise clients such as banks and asset managers as demand for secure crypto infrastructure grows.
- Ledger, best known for its hardware wallets but increasingly focused on institutional services, is exploring a U.S. IPO that could value the company at more than $4 billion even as it works to move past prior security incidents.
Ledger has appointed a new chief financial officer and opened a New York office as the crypto security firm expands its U.S. presence ahead of a planned public listing.
The company said John Andrews, a former Circle (CRCL) executive, will take on the CFO role. Andrews spent more than two decades in finance and most recently led capital markets and investor relations at the stablecoin issuer. His appointment comes as Ledger positions itself for closer engagement with institutional investors and public markets.
The New York office, backed by a multi-million dollar investment, will serve as a hub for Ledger’s enterprise business. The firm is hiring across institutional and marketing roles as it builds out services for banks, asset managers and other financial firms entering digital assets.
Ledger said the move reflects growing demand for secure infrastructure as more institutions hold and manage crypto.
The expansion lands as Ledger explores an initial public offering in the United States. The company is reportedly working with major banks including Goldman Sachs, Jefferies and Barclays on a listing that could value the firm at more than $4 billion. CEO Pascal Gauthier has previously pointed to rising revenue tied to an increase in crypto hacks, which has driven demand for secure storage.
Ledger is best known for its hardware wallets, but it has pushed deeper into enterprise services in recent years. Its platform offers tools for institutions to store, manage and trade digital assets with internal controls, similar to how a bank might oversee client funds across multiple approvals.
The company says it secures a large share of retail-held stablecoins and has sold more than 8 million devices globally. Still, its track record includes setbacks. A 2020 data breach exposed customer information, and a later exploit in 2023 affected decentralized finance integrations tied to its ecosystem.
Ledger’s U.S. push follows a broader shift in the crypto sector, where firms are again testing public markets after a volatile period. Custodian BitGo (BTGO) recently went public, marking one of the first listings in the sector this year. Tokenization firm Securitize has plans to IPO as soon as it receives the green light from regulators. Meanwhile, crypto exchange Kraken has paused its IPO plans as it waits for better market conditions, CoinDesk reported earlier this week.
More For You
Kalshi valuation doubles to $22 billion in latest funding round: Bloomberg
By Olivier Acuna|Edited by Sheldon Reback35 minutes ago
The new $1 billion investment round indicates that interest in the embattled prediction market remains.
What to know:
- Kalshi Inc. raised more than $1 billion in a funding round led by Coatue Management, valuing the prediction market platform at $22 billion, double its December valuation, Bloomberg reported.
- The company’s rapid growth has attracted major investors even as lawmakers scrutinize risks of insider trading and market manipulation.
- Kalshi faces mounting state-level pushback, including a Nevada ban and criminal charges in Arizona alleging illegal gambling and election wagering.
Why CoinDesk PitchFest matters heading into Miami
Mar 20, 2026Kalshi valuation doubles to $22 billion in latest funding round: Bloomberg
35 minutes ago
CoinDesk 20 performance update: Aptos (APT) gains 6.3% as index rises
48 minutes ago
Coinbase introduces stock perpetual futures contracts for non-U.S. customers
1 hour ago
Iran war volatility is driving oil trading boom on Hyperliquid, says JPMorgan
1 hour ago
Bitcoin holds steady, with one analyst seeing the upside emerging
2 hours agoTop Stories
Crypto market steadies as derivatives signal caution, macro pressure builds
3 hours ago
Bitcoin’s price action looks dangerously similar to the pattern that sent it crashing to $60,000
6 hours ago
Crypto markets – and the American people – deserve clarity
17 hours ago
Crypto Clarity Act inches toward Senate hearing as lawmakers weigh legislative trades
15 hours ago
