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Founded: 2014

Headquarters: Paris, France

Founded in Paris in 2014, LEDGER is a global platform for digital assets and Web3. Ledger is already the world leader in critical digital asset security and utility. With more than 5M devices sold to consumers in 200 countries and 10+ languages, 100+ financial institutions and brands as customers, 20% of the world’s crypto assets are secured, plus services supporting trading, buying, spending, earning, and NFTs. LEDGER’s products include: Nano S Plus, Nano X hardware wallets, LEDGER Live companion app, [ LEDGER ] Market™, the world’s first secure-minting and first-sale distribution platform, and Ledger Enterprise. With its ease of use, LEDGER allows a user to begin investing in digital assets and ultimately, achieve financial freedom in a safe and stress-free environment.

Key Facts


In the world of digital assets, security is paramount. With countless examples of users losing their digital assets, such as FTX, Celsius, Zipmex and Vauld, customers are in need of a way to easily and safely custody their own digital assets. Some solutions such as Hot Wallets provide an easy way to hold digital assets, however, they are susceptible to online attack vectors, including device malware, malicious smart contracts, and software upgrades.


Cold wallets provide the highest level of security for digital assets. They store private keys offline, eliminating most online vulnerabilities. Bad actors must gain physical possession of the cold storage device and the owner’s consent to move funds. There is also an additional hurdle if the wallet utilizes a multi-signature feature where several entities must sign a transaction before it is approved.


Ledger’s ambition is to become the gateway to all crypto services by allowing users to easily and securely manage digital assets in one place. Ledger hardware wallets are resilient by design, combined with the Ledger Live App, users can buy, swap, sell, and grow assets with full freedom, under the safest umbrella there is.


Ledger aims to secure the new disruptive class of crypto assets: financial assets like cryptocurrencies or Initial Coin Offerings (ICOs), data assets like sensors, Internet of Things (IoT) devices or machine-to-machine, and digital identities like second-factor authentication or passwordless login.


Hardware storage wallets from Ledger are a type of offline storage that isn't connected to the internet, making them more secure against hacking than online wallets. This allows users to manage their own cryptocurrency without worrying about their provider's liquidity.


Ledger’s main product is a hardware wallet to manage crypto assets. The wallets are shaped like USB keys and feature a tiny screen to confirm transactions on the device. The screen is important because it ensures private keys never leave the Ledger device.


Ledger currently offers three hardware wallet products: Nano X, Nano S Plus, and Stax. Ledger wallet line currently supports 5,500+ digital assets and is compatible with 50+ wallets. Ledger offers a unique operating system called BOLOS (Blockchain Open Ledger Operating System), which is integrated either into a secure chip for the Ledger wallet line or into a Hardware Security Module (HSM) for various enterprise solutions.


The Nano X is a pocket-size hardware wallet that seamlessly connects with a smartphone or computer. Through the Ledger Live app and Ledger partners, users can securely buy, exchange and grow crypto. The Nano X allows users to secure and manage over 5,500 coins and tokens including Bitcoin, Ethereum, XRP, and more.


The Nano S Plus is Ledger’s no-brainer entry-level wallet with all essentials to secure digital assets. There are many similarities, however, the main differences between the Nano S Plus and Nano X are that the Nano S Plus does not have Bluetooth connectivity nor Apple IOS support, while the Nano X does.


The credit-card-sized Ledger Stax uses an innovative and sustainable e-ink touchscreen that curves around the front face and spine of the device to elevate the user experience. The new device represents an expansion of Ledger’s popular Nano wallet series, with an intuitive interface that makes the world of cryptocurrency more engaging.


As the first hardware wallet on the market that can display digital art, the Stax’s user interface is highly customizable, allowing individuals to customize their screen with their favorite artwork or design, while enabling a clear, intuitive engagement. Its “E-Ink” display, which spans from the front of the device and curves around its spine, allows an individual to view the entire transaction details at a glance.


In a Decrypt review of Ledger Stax, the company stated, “Unless and until Ledger launches a future iteration of the Stax with a color display, this is likely the most premium hardware wallet out there.”


Ledger Live is a one-stop shop to buy crypto, grow digital assets, and manage NFTs. Users can oversee their collection, manage their digital assets, and send NFTs to another wallet with full transparency.


By using the Ledger Live app, Ledger customers can interact with third-party partners to buy, swap, stake and lend their crypto-assets without leaving the safety of the Ledger infrastructure (all dApp transactions must be signed and confirmed with the hardware wallet). Ledger Live seeks to become a main gateway to the Web3 world. By using Ledger Live, users can avoid manual connection, wallet extensions, and blind signing.


Ledger wallets can be used with Ledger Live, a platform that allows users to manage their funds and interact with the broader Web3 ecosystem. The Ledger team has been working to onboard new integrations to the platform and provide greater Web3 access for its users.


Ledger Enterprise is a global technology provider empowering organizations to participate in the digital asset ecosystem securely and at scale. Ledger’s Software-as-a-Service delivers treasury management, DeFi, NFT, and token creation capabilities with secure governance.


Ledger Enterprise offers the industry’s most secure solution without having to sacrifice usability, speed, or scale.


According to Tanim Rasul, COO at NDAX, “We found the Ledger Vault platform to be the most comprehensive and secure in the industry. We were especially impressed by their governance rule engine that ensures safe, secure, and flexible processes. The Ledger Vault platform alleviates the stress of managing digital assets which allows our executive team to focus more on building our company.”


Ledger’s solutions are designed to eliminate all risks associated with blockchain operations. Ledger provides enterprise teams with their unique Trusted Display and Clear signing technology to make blockchain transactions readable for humans: “What You See Is What You Sign (WYSIWYS)”.


Ledger Enterprise APIs are designed to make their features accessible from customers’ backend software. Allowing users to scale their operation, create and approve large volumes of transactions without compromising security.


Ledger’s APIs allow users to manage high-value interactions with Smart Contract enabled protocols and Decentralized Apps (DApps) to stake digital assets and generate yields.


Ledger Market is a platform for curated NFT drops that enables artists and brands to create, distribute, and store NFTs with ease and world-class security. Through curation, artist-in-residence programs, custom collaborations, and product drops, Ledger Market gives users true ownership and control at every stage of the NFT experience, from minting to safeguarding.


Ledger’s CL (“Crypto Life”) Card allows users to move crypto between Ledger hardware wallets and card accounts via the companion app Ledger Live.


Similar to other crypto cards already on offer, customers can earn 1% crypto rewards in bitcoin or USDT, or 2% in Baanx’s native token BXX, when funds are spent. Users can also receive paychecks denominated in Bitcoin, Ethereum, or other stablecoins.


Customers can use their cards at some 90 million merchants and online stores accepting Mastercard across the UK and Europe. “We now have an easy and secure solution to pay with crypto that also allows you to self-custody until you want to top up,” said JF Rochet, vice president of international development at Ledger.


Ledger sales are highly correlated with outflows from exchanges because the more people get educated, the more they come to value security and self-custody as a result.


When asked about the impact of the market downturn on the company, Ian Rogers, Ledger’s chief experience officer, told Blockworks in an email that sales “jumped 4.5x day-over-day on the Celsius news, and continue to be strong to this day. Ledger is [now] doing, quarterly, the entire annual revenue of 2020.”


According to Coin Telegraph, Ledger reported revenues surged over 500% in Q1 of 2021.


In December 2022, Ledger CEO Gauthier said he wants his company to list on the stock market, describing Ledger as a “private company getting ready to be public.” Commenting on the listing venue, he noted, “When I say this in Europe, people hate me for it but then they agree in the end. If it’s for innovation, it’s NYSE or Nasdaq — end of story,” he said. “I'd be happy to debate anyone on the matter that the European markets are not ready for companies such as Ledger to go public.”


In September 2022, Ledger announced that Nano X and Nano S Plus is now available in all U.S. Best Buy stores nationwide. Best Buy leverages a unique combination of tech expertise and human touch to meet customers’ everyday needs with over 900 stores in the United States.


Ledger CEO Gauthier said, “There has never been a more important time to truly own your digital assets. Too many hacks, too many people losing their money through no fault of their own. With Best Buy we are making it easier than ever for customers in the US to take security into their own hands. In just 1 hour anyone can stop themselves from getting wrecked. Remember: not your keys, not your coins.”


In October 2022, Ledger announced that staking is now available on Ledger Enterprise’s all-in-one platform. Whether a crypto custodian, a bank, or a traditional actor, users can now safely stake their digital assets through Ledger Enterprise’s all-in-one, secure, and cost-effective platform. By staking digital assets with Ledger Enterprise, users gain access to a seamless, secure, all-in-one digital asset management platform, a fully customizable governance framework, real digital ownership, and 100% auditable and regulatory-friendly reporting.


In November 2022, Binance partnered with Ledger to bring different strands of the Web3 ecosystem together. The agreement enables users with a verified Binance account to buy crypto through Ledger directly with their bank cards and have the coins go straight to their address secured by a Ledger device. Users that do not yet have a Binance account can create one directly in the Ledger Live app.


In November 2022, famed rapper Aubrey "Drake" Graham posted on Instagram an image of a diamond-encrusted Ledger hardware wallet on a marble countertop with the caption, “Waiting on you, Bitcoin.”


In December 2022, Ledger Stax was unveiled to much fanfare at Ledger Op3n in Paris, and it has since seen an unprecedented demand. Due to the high interest, pre-orders for Ledger Stax have been officially closed. “We would like to thank everyone who minted their NFTs, pre-ordered on, and our retail partners (including Best Buy) who anticipated the demand and ordered devices ahead of time. We have no more stock until the end of summer in 2023. Unsurprisingly Ledger Stax is the most successful product launch in the eight-year history of Ledger – between sales on, the Ledger Stax mint on [LEDGER] Market, and demand from retailers around the world (including Best Buy in North America), demand has already exceeded our supply through summer 2023,” said Ian Rogers, Chief Experience Officer at Ledger.


In January 2023, Ledger announced that Seth Hertlein, Ledger’s Global Head of Policy, has been elected to the Blockchain Association’s 2023-2024 Board of Directors. The Blockchain Association is a leading non-profit organization whose mission is to advance the future of crypto in the United States, promote blockchain technologies, and shape pro-innovation policies to ensure the success of the Web3 ecosystem.


In March 2023, Ledger announced the Ledger Extension, the first browser extension designed to work with customer's Ledger devices from the outset. The Ledger Extension solves one of the biggest pain points of Web3 today: connectivity. It makes interacting with apps and platforms easier and faster than ever, while remaining secure. Too often our industry has sacrificed security or accessibility. Ledger fixes that. It’s a true milestone for Web3,” said Ian Rogers, Chief Experience Officer at Ledger.


In April 2023, Ledger ranked #1 in the infrastructure sector on Fortune's Crypto 40 list. The inaugural edition of the Fortune Crypto 40, a first-of-its-kind list that draws upon extensive research to recognize the best companies and organizations in the industry.


In June 2023, Ledger announced that it is entering the institutional trading technology market with the first open network to enable custodial trading via exchange and custodial partners. This solution will provide unparalleled control, security, flexibility, and transparent governance over an enterprise’s digital asset trading. With its technology foundation and security infrastructure at its core, Ledger is developing a more secure and regulation-friendly environment for institutional trading, enhancing control and ownership, while significantly diminishing the risk of counterparty failures.


In August 2023, Ledger announced an on-ramp integration with PayPal, allowing users to explore crypto in a convenient, simple and secure way via the Ledger Live companion app. Whether a crypto expert or a newcomer to the world of digital currencies, the PayPal and Ledger Live integration will provide a secure and user-friendly platform for buying crypto. When using PayPal through Ledger Live, Ledger users in the US (subject to applicable state law) will be able to directly buy BTC, ETH, BCH, and LTC using their linked PayPal account.


In September 2023, Ledger announced its users can now create a Base account in Ledger Live Desktop and Mobile Android to send and receive ETH, with their private keys securely stored in their Ledger device. The main objective of Base is to onboard the next billion users into the world of cryptocurrencies by making blockchain technology more accessible. It is designed to function both as a platform for Coinbase’s onchain products as well as an open ecosystem for developers to build their own DApps. While Base is incubated within Coinbase, the plan is to gradually transition it to a more decentralized structure.


Primary Vertical


Mosaic Score


Money - 100

Momentum - 100

Management - 100

Market - 100

What is a Mosaic Score?

Employees: 500

Key Officers

Name Work History Title Status
officer name 1 Founder Current
officer name 2 Founder Current
officer name 3 Founder Current


Businesses that accept or are transitioning to accept bitcoin payments. Customers that own or trade cryptocurrency

Key Investors

Businesses that accept or are transitioning to accept bitcoin payments. Customers that own or trade cryptocurrency

Size of Market

Businesses that accept or are transitioning to accept bitcoin payments. Customers that own or trade cryptocurrency

Market Position

Businesses that accept or are transitioning to accept bitcoin payments. Customers that own or trade cryptocurrency

Valuation & Fundraising

Last Round: Jan. 2021, Seed

Valuation Post-Money: $10M


Amount Raised: $1M

Total Funds Raised: $10M


Linqto Implied Valuation: $10M

Funding Rounds

Date Round Amount Valuation
01/01/2021 Seed $11M $11M
01/01/2021 Seed $11M $11M
01/01/2021 Seed $11M $11M

Valuation Over Time

Linqto Chart

1 buyback

Competitive Landscape

Company Valuation Revenue

Company Name

San Francisco, California

$65.3B $1.3B

Company Name

San Francisco, California

$65.3B $1.3B

Company Name

San Francisco, California

$65.3B $1.3B

Company Name

San Francisco, California

$65.3B $1.3B