Exclusive: Ledger CEO On Business Growth, M&A and Wallet Price

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Linas Kmieliauskas

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Linas Kmieliauskas

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June 26, 2023 06:53 EDT

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Ledger, a French manufacturer of a popular hardware wallet, is diversifying its business by developing enterprise-focused solutions and doesn’t rule out acquisitions to support its growth, CEO Éric Larchevêque told Cryptonews.com. Also, he forecasts a decrease in their wallet price.

In 3-5 years, the revenue share of its wallet business is estimated to drop to one third, compared to 95% now, the CEO said. The company intends to extend security solutions to enterprises such as hedge funds and financial institutions, to provide governance in the management of crypto assets. This and other steps, such as IoT (internet of things) related solutions, will help to diversify business and become more resilient to the volatility in the crypto market.

The CEO states that the market slump has definitely affected business: sales spiked in December and fell off subsequently. He declined to comment on financials of the company.

Also, Ledger is always considering M&A opportunities, while a developer of security solutions that could be implemented in multiple devices could be an ideal target, according to Larchevêque.

Despite the focus on enterprise solutions, the company is developing its hardware wallet business further. Although the CEO reiterates that he cannot talk about any new products, he says that within this year or the next, we are “going to see some real innovations.” Moreover, he forecast that in not so distant future “the entry level hardware wallets will be available at the very good price”.

Ledger designed two wallets: the light Ledger Nano S and the touchscreen Ledger Blue, which can both support directly 13 cryptocurrencies, and dozens more via third party applications, according to the website of the company. The list of coins that will be supported in the future is public and can be found on the roadmap of the company.

Ledger recorded revenue of USD 56 million last year, and around USD 734,000 in 2016, according to media reports.
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Watch the full interview with Éric Larchevêque: