Ledger, a leading provider of cryptocurrency security solutions, has announced that it will be delaying its plans to go public in the US market. The decision comes as a result of difficult market conditions, which have led to a decline in investor appetite for initial public offerings (IPOs) in the crypto sector.
The company had previously filed confidentially with the Securities and Exchange Commission (SEC), but has since put its IPO plans on hold. This move reflects a broader trend across the crypto industry, as several companies reassess their public listings amid shrinking token valuations and rising volatility.
Despite the delay in its IPO plans, Ledger's business in the US continues to grow. The company has recently appointed a new chief financial officer and opened a new office in New York focused on institutional crypto infrastructure services. This expansion is driven by increasing demand for secure digital asset custody solutions from banks, asset managers, and stablecoin issuers.