With bitcoin soaring to 63,000 euros, the atmosphere is festive at Ledger. The French unicorn specializing in wallet – these small high-tech objects allowing crypto and NFTs to be stored securely – had to deal like the others with a gloomy market. It has also laid off 12% of its workforce at the end of 2023. But she once again has a clear horizon ahead of her. This May 28, Ledger finally announced the start of deliveries of its latest baby, the Ledger Stax – presented more than a year ago. These deliveries will initially concern customers who have pre-ordered the device. Ledger, which should soon become profitable again, is now aiming to achieve 1 billion euros in turnover by 2025.
His track record over ten years gives him reason to hope. With 6 million devices sold in 180 countries, it has established itself as the world leader in the sector: it secures 20% of the planet’s digital assets. A significant success. It is, in fact, too rare to see a French start-up succeed in hardware. European investors often judge that this sphere is more risky than intangible software and are reluctant to invest there.
But Ledger has obviously borrowed a few pages from Apple’s notebook to develop. The first one ? Pay constant attention to design. Having an innovative and efficient product does not guarantee its success, it is essential that it is simple to use. Ledger clearly understood that the Web3 sector still had a lot of progress to make at this level. To create its Ledger Stax which displays a curved touch screen, the French start-up therefore teamed up with a design star: the father of the iPod Tony Fadell.
“A secure gateway to the Internet”
Second secret of Apple’s success: having a perfectly oiled supply chain. Ledger of course does not have the scale of Apple. But he signed with Foxconn, an emblematic Apple supplier capable of ensuring rapid launches across vast geographies. Apple’s final precept which we find echoed at Ledger: a strong focus on security. Digital giants have often prioritized performance and innovation over the protection of their product. Apple is one of the few to have made it a central selling point, by highlighting a specific aspect: the defense of the privacy of its users. Ledger, for his part, works on other facets of digital security, in particular that relating to the possession of digital “objects” and the transactions concerning them.
A bias that makes sense. As our digital lives become richer and more targeted by attackers, Internet users are more concerned about the security of their virtual activities. Ledger is also starting to explore new playing fields by adding compatibility to Stax with a new identification technology for websites and applications called “Passkey”. “When we enter our passwords on smartphones or computers, we constantly run the risk of having them hacked. This security problem is immense and continues to grow, argues Pascal Gauthier, CEO of Ledger. This news functionality makes, according to him, Stax “a real secure gateway to the Internet.” Ledger is, of course, not the only company to dream of becoming a Swiss army knife of digital identity. the unicorn will certainly be able to roam in realms larger than those of crypto.