Ledger, a leading provider of crypto hardware, is ramping up its US operations with the appointment of John Andrews, a former Circle executive, as its new Chief Financial Officer and the opening of a new office in New York City.
Andrews, who previously led capital markets and investor relations at Circle, will play a crucial role in driving Ledger’s strategic growth and financial stability. The New York office, part of a multi-million-dollar investment, is set to create dozens of new roles across the company’s enterprise and marketing teams.
A Hub for Institutional Growth
The new office will serve as a hub for Ledger’s institutional business, focusing on the company’s Ledger Enterprise platform. This platform offers advanced custody and governance tools for digital assets, catering to the needs of banks, asset managers, custodians, and stablecoin issuers.
“The opening of our New York office and the appointment of John Andrews reflect our commitment to expanding our presence in the US market and meeting the growing demand for secure digital asset infrastructure,” said Pascal Gauthier, CEO of Ledger.
Strategic Moves Amidst Market Shifts
Ledger’s expansion comes at a time when the crypto industry is experiencing significant changes. In January, reports suggested that Ledger was exploring a US initial public offering (IPO) that could value the company at over $4 billion. The discussions involved major financial institutions such as Goldman Sachs, Jefferies, and Barclays.
Despite the market volatility and regulatory scrutiny, Ledger reported a record year in terms of revenue in 2025. The company’s strategic moves are seen as a response to the growing institutional interest in digital assets and the need for robust security solutions.
Broader Industry Trends
Ledger’s expansion is part of a broader trend in the crypto industry, where companies are increasingly looking to go public. In 2026, several notable crypto firms are exploring public listings:
- Animoca Brands: The company, founded by Yat Siu, is targeting a public listing through a reverse merger, positioning itself as a vehicle for exposure to the broader crypto market.
- Abra: The digital asset wealth platform announced plans to go public via a reverse merger with a special purpose acquisition company (SPAC), valuing the company at $750 million.
- Kraken: One of the larger US-based crypto exchanges, Kraken, has been the subject of IPO speculation. In November 2024, the company reached a $20 billion valuation following an $800 million funding round. However, recent reports suggest that Kraken has paused its IPO plans until market conditions improve.
Looking Forward
As the crypto industry continues to mature, the focus on security and institutional adoption will remain paramount. Ledger’s strategic moves in the US market, including the appointment of a seasoned CFO and the establishment of a new office, position the company well to capitalize on the growing demand for secure digital asset solutions.
With a strong foundation and a clear vision, Ledger is poised to play a significant role in shaping the future of the crypto ecosystem, particularly as more institutions and investors seek to navigate the complex and rapidly evolving digital asset landscape.
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