The French producer of hardware crypto wallets can become the first European company valued more than $1 billion in the cryptocurrency industry after it completes the second round of financing.

Ledger, France-based manufacturer of hardware wallets Ledger Nano S, is preparing for “second phase” to its Series B funding round. Among possible investors, interest was shown by Siemens, Samsung and Google's venture arm GV, Forbes reports citing a source close to the deal.

In January, Ledger attracted $75 million within the previous funding round. It resulted in pushing the market value of the entire company to the level of $300 million.

In 2017, Ledger sold more than a million hardware wallets in 165 countries and received revenues of €45 million and EBITDA of €25 million.

Pascal Gautier, president of Ledger, told that the company now intends to intensify development in the B2B direction and offer hardware custodial solutions for storing cryptocurrencies to large investors and hedge funds.

Gauthier says it was meeting real-life hedge fund managers who were wearing Ledger devices around their necks that inspired the company’s newest two projects.

"You need a Ledger Nano S solution for institutions, products that are made for big and small financial institutions."

The first B2B solution has already been released. Ledger Vault is a multi-user software product with Nano S-style hardware keys, so everyone in a hedge fund or family office can have access to a single crypto wallet with differing access limitations and requirements. According to Gaultier, Ledger Vault is in high demand, with clients literally queueing outside Ledger office.

In May, Ledger announced a partnership with the Japanese financial giant Nomura in order to create a custodial service Komainu, which will allow large financial institutions to deposit their cryptocurrency assets in a storage facility created by Ledger and controlled by Nomura.

The first crypto unicorn appeared in the industry last August. It was Coinbase who was named the first crypto unicorn after in completed its series D funding round raising $100 million from a group of investors. Its market valuation jumped to $1.6 billion. The second US-based unicorn in the crypto industry was Circle, which bought Poloniex this year earlier and whose market valuation is estimated at $3 billion.