Ledger has raised most of a €100 million ($109 million) funding round at a €1.3 billion ($1.4 billion) valuation, the company told Bloomberg. Media outlets first reported on a potential new capital raise last August.

The collapse of centralized crypto exchange FTX and recent U.S. regulatory actions against competitor Binance have made many digital asset owners wary of leaving their tokens in the hands of others. Ledger’s hardware products allow users to store their assets in a secure, physical location.

(By Brandy Betz)