Quick TakeQuick Take

• Ledger has named former Circle executive John Andrews as its new CFO and opened a New York office as part of a multi-million-dollar U.S. expansion.
• The move builds on earlier reports that the firm is exploring a New York IPO that could value it at more than $4 billion.

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.

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