500% revenue surge in Q1 seen by Ledger hardware wallet provider

500% revenue surge in Q1 seen by Ledger hardware wallet provider

A dramatic increase in first-quarter sales, underscoring the strength of the bull market through the first three months of 2021, has been reported by Ledger, a leading cryptocurrency security and infrastructure co

The company reported Wednesday, that Revenues surged over 500% between January and March. Though actual figures were not disclosed, but Ledger said it was profitable during the quarter.

Allowing users to self-custody digital assets such as Bitcoin (BTC), Ledger is the company behind the Ledger Nano S and Nano X hardware wallets, it competes for market share with Trezor and several other lesser-known wallets.

Touting his company’s “talented and hard-working team, Ledger CEO Pascal Gauthier, said that “The entire industry is in hyper-growth, and we are proud to be a part of it”

Also, with over 150 open positions needing to be filled, Ledger is expanding its in-house capacity significantly. Headed by former leaders of eToro and Opera, the company announced that it had filled two executive positions. As it expands its services to artists and NFT management, the company recently filled the role of vice president of NFTs.

Importantly, Ledger appears to have recovered from a high-profile leak in December 2020 that exposed 270,000 crypto wallet buyers. The company affirmed that the security breach did not affect the safety of user funds. Nevertheless, it resulted in a negative public relations backlash against the company.

 

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