trezor

What trezor does

Trezor is a cryptocurrency hardware wallet company that provides self-custody solutions for individual holders of digital assets. The product portfolio centers on hardware wallet devices, including the Trezor Safe 7, paired with the Trezor Suite companion software for desktop and web-based wallet management. The underlying technology relies on secure hardware elements for offline private key storage, with the Safe 7 incorporating the custom TROPIC01 secure element chip co-developed with Tropic Square and audited by Ledger Donjon. Trezor's firmware is open-source, enabling community security review, and the company has committed to the ERC-7730 Clear Signing standard to deliver human-readable transaction verification before signing.

The company sells hardware devices directly to consumers through its own e-commerce platform at trezor.io with global availability, targeting individual cryptocurrency holders seeking protection against hacking, phishing, blind-signing attacks, and exchange custody failures. Its ~28% share of the global hardware wallet market positions it as the clear number-two player behind Ledger. Recent product and partnership moves have extended the offering beyond pure cold storage into DeFi yield generation: Trezor Suite integrates Morpho's decentralized lending protocol to allow users to earn yield on USDC and USDT via hardware-wallet-signed transactions, with Steakhouse Financial curating the vault selection. The business model is hardware-driven direct-to-consumer sales, with no disclosed subscription or recurring revenue component in the available sources, and revenue is not publicly disclosed.

Note: A conflicting source describes a separate Russian entity "TREZOR Ltd." founded in 1991 selling physical safes and security equipment from Moscow. The crypto-hardware-wallet identity above is supported by the preponderance of sources, including product, partnership, technology, and market-share data.

Name

trezor

Legal name

TREZOR Ltd.

Website

https://trezor.com

Company type

Private

Founded year

1991

Operating status

Operating

Headcount range

51–100 employees

Short description

Trezor is a cryptocurrency hardware wallet company serving individual crypto holders with self-custody devices, the Trezor Suite software platform, and a custom secure element chip. It holds roughly 28% of the global hardware wallet market.

Ownership category

akta.pro rank

Headquarters

HQ city

Ogorodny

HQ country

Russia

HQ region

Europe

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Marketing or Sales, Personnel, Others

Distribution channels1 record

Marketing channels2 records

Core offering

TREZOR Ltd. is a Russian retailer and distributor of physical safes, vault doors, and secure storage systems, offering products from leading global manufacturers such as Bordogna, Diplomat, Kaso, SMP, Arcas OLLE, and Winchester. The company sells directly to consumers and businesses through its e-commerce site and Moscow showroom, supplying burglary-resistant, fire-resistant, and combination-class safes across all protection grades.

Product overview

Trezor is a cryptocurrency hardware wallet company offering a product portfolio centered on Trezor Suite companion software and hardware wallet devices including the Trezor Safe 7. Trezor Suite serves as the primary interface for wallet management and provides access to DeFi integrations such as Morpho for yield generation. The ecosystem also includes the Clear Signing security standard for transaction verification. Together, these products form a secure custody solution combining hardware device security with software functionality for cryptocurrency management.

Differentiator

Problem solved

Functional benefit

Products and services

• Bordogna Safes

Segments1 record

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

Four partnerships are on record, tiered core and supporting.

• Tropic SquarecoreTechnology or Integration · 1 January 2026Tropic Square is the chipmaker that developed the TROPIC01 secure element chip used in the Trezor Safe 7 wallet. Both Trezor and Tropic Square jointly disclosed a vulnerability discovered during Ledger Donjon's security audit.
• MorphocoreTechnology or IntegrationTrezor integrated Morpho's decentralized lending protocol into Trezor Suite, enabling users to earn yield on USDC and USDT deposits through pre-selected Morpho vaults (USDC Prime and USDT Prime). Deposits, withdrawals, and reward claims are signed directly on users' hardware wallets.
• Steakhouse FinancialsupportingStrategic or Co-development PartnerCurates the Morpho vaults (USDC Prime and USDT Prime) offered through Trezor Suite's yield functionality, providing vault selection and oversight.
• Ethereum FoundationcoreStrategic or Co-development PartnerTrezor committed to implementing the ERC-7730 Clear Signing standard developed through the Ethereum Foundation's Trillion Dollar Security Initiative, initiated by Ledger. This standard makes blockchain transactions human-readable before approval.

Scale indicators1 record

Recent moves5 records

Expansion highlights4 records

Direct peers

• KeepKey: Earlier entrant in the hardware wallet category, now part of the ShapeShift ecosystem. Competes in the same consumer self-custody segment with a comparable form factor and feature set.
• Ledger: Direct competitor in cryptocurrency hardware wallets, holding the #1 position at ~34% market share. Closely comparable product line (Ledger Nano, Stax), secure-element architecture, and target customer (self-custody crypto holders).
• BitBox (Shift Crypto): Swiss-based hardware wallet maker with a similar open-source, security-first positioning to Trezor. Comparable product category (BitBox02) and overlapping retail self-custody customer base.

Broad incumbents

• Coinbase: Major centralized exchange and custodian that competes with Trezor by absorbing self-custody demand into exchange custody. Highly relevant as the primary alternative-buying pattern to hardware self-custody.
• MetaMask (Consensys): Dominant software/hot wallet and DeFi interface that integrates with hardware wallets including Trezor. Not a direct hardware competitor but a key ecosystem partner and the leading substitute for hardware-only self-custody.

Emerging players

• NGRAVE: Belgian hardware wallet maker emphasizing air-gapped, EAL7-certified security. Targets the high-end of the same self-custody market as Trezor Safe 7 with a more premium, security-maximalist positioning.
• SafePal: Hardware + software wallet suite historically backed by Binance. Overlaps with Trezor in retail crypto self-custody but extends more aggressively into mobile and exchange-integrated flows.
• ELLIPAL: Air-gapped hardware wallet competitor with similar cold-storage self-custody thesis. Targets a comparable retail crypto holder but with stronger mobile-app emphasis.
• CoolWallet: Credit-card-form-factor hardware wallet addressing mobile-first crypto users. Competes for the same self-custody segment as Trezor but with a portability- rather than desktop-first design.
• Tangem: Smart-card-style hardware wallet expanding rapidly in retail and institutional channels. Competes with Trezor for entry-level and gift-segment crypto self-custody buyers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about trezor