Ledger appoints former Circle exec as CFO, opens New York office as firm explores potential US IPO

Ledger has appointed John Andrews as chief financial officer and opened a new office in New York City, marking a significant expansion into its largest global market.

Andrews joins Ledger from Circle, where he served as head of capital markets and investor relations, bringing more than 25 years of experience across corporate finance and financial services. The company said in a statement on Friday that his appointment is intended to support its next phase of growth, particularly as it deepens relationships with banks, asset managers, custodians, and stablecoin issuers.

The New York office forms part of a multi-million-dollar investment in Ledger’s U.S. footprint and will serve as a strategic hub for its institutional division, Ledger Enterprise, the firm said. The expansion is expected to create dozens of roles across enterprise and marketing functions in response to increasing demand for digital asset infrastructure, it added.

U.S. expansion aligns with institutional push

Ledger said the new office places its enterprise offering “at the epicenter of the financial world,” highlighting products designed to help institutions govern and trade digital assets. The company said that it currently helps secure more than 30% of dollar stablecoins held by retail investors, underscoring its role in the broader crypto ecosystem.

Ledger CEO Pascal Gauthier said Andrews brings “the institutional rigor and financial leadership necessary to scale Ledger’s global vision,” adding that his experience at the intersection of traditional finance and digital assets is key as the company expands in the United States. Andrews said Ledger is “uniquely positioned” to support institutions transitioning into digital assets and described his appointment as coming at “an important moment for its growth.”

The expansion follows earlier reports that Ledger is exploring a potential U.S. initial public offering. The Financial Times reported in January that the company has engaged advisers, including Goldman Sachs, Barclays, and Jefferies, for a possible listing that could value the firm at more than $4 billion. However, plans are not finalized and could still change.

Ledger had previously signaled its intent to grow its presence in the city, with Gauthier noting that “money is in New York today for crypto.” The company reported triple-digit million-euro revenue in 2025 and said demand for its products has increased alongside rising security concerns across the crypto sector.

Founded in 2014, Ledger has sold more than 8 million devices across over 165 countries and claims to secure more than 20% of the world’s crypto assets. The firm also highlighted its investment in combining hardware security, cryptography, and artificial intelligence as it positions itself as an “AI-accelerated” security company.

© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.