Hardware wallet maker Ledger has appointed John Andrews, formerly of Circle, as its new chief financial officer. The company simultaneously opened a New York City office as part of a multi-million-dollar investment to expand its U.S. institutional business. These moves come amid reports of a potential U.S. initial public offering and rising demand for cryptocurrency security infrastructure.
Ledger has appointed John Andrews as its new chief financial officer and opened an office in New York City. The company announced the CFO appointment on Friday as part of a broader push to strengthen its institutional business.
Andrews joins from Circle, where he was head of capital markets and investor relations, bringing over 25 years of financial services experience. “Andrews will bring significant financial leadership at a critical time for the company,” stated Chief Executive Officer Pascal Gauthier.
The new New York office is a strategic hub for Ledger Enterprise and represents a multi-million-dollar investment in the U.S. market. The expansion is set to create dozens of new jobs in response to increasing demand for digital asset infrastructure.
This U.S. growth strategy follows a January report by the Financial Times which revealed Ledger had appointed Goldman Sachs, Barclays, and Jefferies as advisers for a potential public listing. That report suggested a future listing could value the company at more than $4 billion.
Founded in 2014, Ledger claims to have sold over 8 million devices worldwide and protects over 20% of global cryptocurrency assets. The firm also stated it assists in securing more than 30% of dollar stablecoins held by retail investors.
