Ledger has named John Andrews, a former Circle executive who led capital markets and investor relations, as its new chief financial officer and has opened an office in New York City as part of an expanded U.S. push.
The company says the New York location is backed by a multi-million-dollar investment in U.S. operations and will create dozens of roles, primarily across enterprise and marketing teams. Ledger intends for the office to act as the center for its institutional business, including the Ledger Enterprise platform that delivers custody and governance tools for digital assets.
Ledger framed the expansion as a response to rising interest from banks, asset managers, custodians and stablecoin issuers seeking secure infrastructure for digital assets. The move follows a year in which the firm reported record revenue in 2025.
Earlier reporting in January indicated Ledger was weighing a U.S. initial public offering that could value the French company at more than $4 billion, with banks such as Goldman Sachs, Jefferies and Barclays involved in discussions.
Broader market context: several crypto firms are pursuing public listings in 2026. Animoca Brands has discussed a potential reverse-merger listing, while digital-asset wealth platform Abra announced plans to go public via a reverse merger with New Providence Acquisition Corp. III at an implied $750 million valuation. Larger exchange Kraken drew IPO attention after a funding round valued it at about $20 billion following an $800 million raise and a confidential SEC draft registration filing; later reports said Kraken paused those IPO plans pending improved market conditions.
After a mixed 2025 for new listings, crypto- and AI-related IPOs returned roughly 13.9% on a weighted average basis, trailing the S&P 500’s 16% gain.
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