Ledger taps former Circle executive to lead financing ahead of potential US IPO

Paris-based cryptocurrency firm Ledger, known for its hardware wallets, has named John Andrews as its new chief financial officer and opened a New York office in a major move to accelerate its US growth.

A seasoned financial executive on Wall Street, Andrews previously led investor relations and capital markets at Circle, where he was instrumental in advancing the company's public listing ambitions.

In his new role, he supports Ledger's expansion due to growing demand from banks and asset managers.

“His deep experience at the intersection of traditional finance and digital assets is in demand as we expand our footprint in the United States,” said Ledger CEO Pascal Gauthier.

Andrews says Ledger's strong reputation for digital asset security places it in a unique position to meet growing institutional demand.

On his appointment, the finance leader said he looks forward to working with the highly regarded team to contribute to its continued expansion.

New York's expansion builds on its previous presence

The expansion builds on its previous footprint in New York, where in 2018 it opened an office focused on Ledger Vault's institutional security product.

Ledger's new office will serve as a strategic hub to support institutional clients looking for secure, high-authentication tools to manage their digital assets, Gauthier said.

We're putting Ledger Enterprise at the center of the financial world to meet the growing need for secure infrastructure.

The company recently signed a multi-year global partnership with the San Antonio Spurs NBA franchise as part of its efforts to build consumer brand recognition in the US market.

Ledger eyes US IPO

The crypto wallet maker, which has sold more than eight million devices worldwide, is working with top investment banks on plans to value it in a US IPO of more than $4 billion, the Financial Times reported.

The move comes amid growing institutional interest in crypto companies and a rush to list in the US under a more supportive regulatory environment under the Trump administration. If it goes ahead, Ledger will join recent high-profile listings like Circle, Gemini, Bullish and BitGo.