What Leather does

Leather is a non-custodial cryptocurrency wallet focused on Bitcoin and the Stacks Layer 2 ecosystem, offered as a unified product across browser extension (Chrome, Brave, Edge) and mobile (iOS, Android) platforms, with a complementary web-based portfolio tracker. The company was founded in 2019 as Hiro Wallet, a desktop application for STX holders participating in Stacking, and has since evolved through a rebrand to Leather, the launch of a browser extension (2021), a mobile app (September 2025), and a web portfolio dashboard. The wallet supports BTC, Ordinals, BRC-20 tokens, Stamps, Runes, and Stacks-native assets including STX and SIP-10 tokens, enabling token swaps, sBTC bridging and rewards, pooled and liquid Stacking, Ledger hardware wallet integration, and fiat onramps.

The technology stack is built on open-source architecture with BIP39-compatible 24-word seed phrase generation and a non-custodial key management model where Leather never accesses user private keys. Technical differentiators include integration with mempool.space for real-time fee estimation and UTXO management, full SIP-30 support for standardized Stacks dApp connectivity, Bitflow DEX aggregation across 37,000+ swap routes, and security validation through a Least Authority audit (2021) and an ongoing HackerOne bug bounty program. The company operates as Leather Wallet LLC, a subsidiary of Nassau Machines Inc. (d/b/a Trust Machines), headquartered in New York.

Leather's go-to-market is product-led and self-serve, distributed globally through the Chrome Web Store, Google Play, and the Apple App Store with no direct sales force. Revenue mechanics are not publicly disclosed; the wallet is free to download and use, with implied monetization through take rates or affiliate arrangements on in-wallet token swaps (Bitflow, ALEX, Velar) and integrated DeFi protocols (sBTC rewards via Bitcoin L2 Labs, Zest, Stacking DAO, LISA). The primary customer segment is individual crypto users and self-sovereignty-focused holders ranging from newcomers to experienced DeFi participants, with stated reach of 100,000+ users on the homepage and 750,000+ Bitcoin wallets reached through the mempool.space integration.

Name

Leather

Legal name

Leather Wallet LLC

Website

https://leather.io

Company type

Private

Operating status

Operating

Short description

Leather is a non-custodial Bitcoin and Stacks Layer 2 wallet offered as a browser extension and mobile app, enabling individual crypto users to manage BTC, Ordinals, BRC-20, and Stacks assets, execute token swaps, and earn yield through Stacking and sBTC rewards while retaining full custody of their private keys.

Ownership category

akta.pro rank

Product category

Non-Custodial Cryptocurrency Wallet Software

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Digital Wallet Platforms (Consumer & Merchant) (BPAMAFAC)

akta.pro secondary industry

Wallet Infrastructure (SDKs, Wallet-as-a-Service) (FSADACAD)

Keywords

• Non-custodial crypto wallet
• Bitcoin self-custody
• Stacks ecosystem wallet
• Browser extension wallet
• Cryptocurrency asset management

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations

Revenue model

1. In-wallet token swap fees: Leather integrates with decentralized exchanges (Bitflow, ALEX, Velar, sBTC Bridge) to enable in-wallet token swaps. Revenue is implied to come from take rates or affiliate arrangements with these integrated DEX protocols. Specific fee percentages are not publicly disclosed.
2. sBTC rewards program: Users mint sBTC (1:1 BTC-backed) and enroll in a rewards program run by Bitcoin L2 Labs, earning up to 5% APY in BTC. Leather facilitates the in-app experience. Revenue mechanics not explicitly disclosed.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels9 records

Core offering

Leather provides a non-custodial cryptocurrency wallet for Bitcoin and Stacks assets, available as a browser extension (Chrome, Brave, Edge) and a mobile app (iOS, Android). The wallet enables users to manage BTC, STX, Ordinals, BRC-20, Stamps, Runes, and SIP-10 tokens while accessing in-wallet token swaps, sBTC rewards, Stacking (yield), Ledger hardware wallet support, and dApp connectivity through an in-app browser. Revenue is generated from affiliated in-wallet swap routes and the sBTC rewards program referrals.

Product overview

Leather is a non-custodial Bitcoin and Stacks wallet offered as a unified product across three platforms: a browser extension for Chrome, Brave, and Edge; a mobile app for iOS and Android; and a web-based portfolio tracker. The core offering comprises the Leather Browser Extension and Leather Mobile App, both enabling Web3 app connections, token swaps, Ledger hardware wallet support, and asset management for BTC, STX, Ordinals, BRC-20, and Stamps. These are complemented by sub-products including the Web Portfolio for holdings visualization, the sBTC Feature for earning ~5% APY on bridged Bitcoin via Stacks L2, the Stacking Feature for earning 6-10% BTC rewards on STX through pooled or liquid mechanisms, Token Swaps powered by Bitflow DEX with access to ALEX/Arkadiko/Velar liquidity, an In-App Browser in mobile for dApp interaction, and Developer Console tools for SIP-30 method testing. The product prioritizes self-custody, open-source transparency, and user-controlled private keys.

Differentiator

Problem solved

Functional benefit

Products and services

• Leather Browser Extension A non-custodial browser extension wallet for Bitcoin and Stacks available on the Chrome Web Store for Chrome, Brave, and Edge browsers. It enables Web3 app connections, in-wallet token swaps, trading on decentralized marketplaces, Ledger hardware wallet integration, and management of BTC, STX, Ordinals, BRC-20, and Stamps.
• Leather Mobile App A non-custodial mobile wallet application for iOS and Android that enables users to manage Bitcoin and Stacks assets, connect to dApps via an in-app browser, access earn features including Stacking and sBTC rewards, and perform token swaps through integrated DEXs.
• Web Portfolio A web-based portfolio tracker that displays combined BTC and STX holdings in a single view, including total USD balance, visual allocation breakdown, sortable token table with allocation percentages, and a recent transaction activity feed. Accessible at app.leather.io/portfolio by connecting a Leather wallet, with no separate account creation required.

Quantifiable outcome

• Up to 5% APY in BTC rewards through sBTC rewards program
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Feature13 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Least AuthoritycoreTechnology or Integration · 20 May 2025Leather was audited by Least Authority, a leading security consultancy specializing in crypto audits. The audit covered the browser extension before its initial launch. Findings were promptly addressed, and the full audit report is publicly available on Leather's GitHub repository. This partnership underscores Leather's commitment to proactive security and user protection.
• OnrampercoreGTM or Marketing Partner · 4 December 2024Onramper provides unified fiat-to-crypto onramps for Leather users, aggregating vendors including Topper, Stripe, Moonpay, and others. This gives users multiple payment options (Apple Pay, Google Pay, Debit Card, Venmo) for purchasing STX and BTC directly in the Leather wallet.
• Mempool.spacecoreTechnology or Integration · 27 August 2024Integration with mempool.space delivers real-time Bitcoin network fee estimation and UTXO management to over 750,000 Leather wallets. Leather leverages three key API endpoints: GET /api/address/utxo for UTXO management and fee optimization; GET /api/address/txs for faster transaction tracking; and GET /api/v1/fees/recommended for Low/Medium/High fee recommendations. This enhances transaction speed, transparency, and reliability.
• Bitcoin L2 LabscoreStrategic or Co-development PartnerBitcoin L2 Labs runs the sBTC rewards program in collaboration with Leather. Users mint sBTC within Leather and enroll to earn up to 5% APY in BTC rewards. Leather (v6.56+) facilitates the in-app experience for the rewards program. Withdrawal functionality back to BTC was planned for February 2025.
• BitflowcoreTechnology or IntegrationBitflow Finance is a decentralized exchange (DEX) aggregator for Bitcoin users, integrated into Leather for in-wallet token swaps. Aggregates liquidity across multiple DEXs generating over 37,000 swap routes. Supports native BTC, SIP-10s, Runes, and Bitcoin asset swaps. Provides automatic best-route selection and enhanced swap confirmation screens showing full token routes and DEX hops.
• Hel.iominorChannel Partner/ Reseller/ DistributorHel.io is a crypto checkout solution enabling direct BTC payments from buyers to merchants without intermediaries. Integration with Leather within Shopify's payment plugin allows merchants to accept Bitcoin seamlessly via Leather. Part of Leather's expansion into e-commerce and merchant payment acceptance.
• HackerOnecoreTechnology or IntegrationLeather participates in the HackerOne bug bounty program, validated by ethical hackers who continuously identify and resolve vulnerabilities. This complements the Least Authority audit and demonstrates ongoing commitment to security beyond one-time audits.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• MetaMask: MetaMask, from Consensys, is the dominant EVM non-custodial wallet with more than 100 million users and recent expansion into Bitcoin and Solana support. It represents a broad incumbent threat if it deepens Bitcoin and Stacks connectivity, as it brings massive brand and distribution leverage.
• Trust Wallet: Trust Wallet, owned by Binance, is a broad multi-chain non-custodial wallet supporting thousands of assets across mobile and browser. It competes with Leather on the consumer crypto wallet layer but is much larger, more diversified across chains, and does not specialize in Bitcoin L2.

Direct peers

• Unisat: Unisat is a Bitcoin wallet purpose-built for Ordinals, BRC-20, and Runes trading. It competes directly with Leather for Bitcoin-native power users in the same ecosystem, though it leans more heavily on Ordinals trading tools rather than Stacks L2 yield.
• Sparrow Wallet: Sparrow is a Bitcoin-only self-custody wallet focused on power-user features like UTXO control, hardware wallet integration, and CoinJoin. It overlaps with Leather on BTC security and Ledger support, but does not address Stacks L2 or DeFi yield.
• Xverse: Xverse is a non-custodial Bitcoin and Stacks wallet supporting BTC, Ordinals, BRC-20, and Stacks assets across mobile and browser. It is the closest direct competitor to Leather with overlapping asset support, sBTC, and Stacking integration, targeting the same self-sovereignty-focused user base.
• BlueWallet: BlueWallet is a non-custodial Bitcoin wallet with strong Lightning Network support and mobile-first UX. It targets a similar consumer self-sovereignty segment and competes with Leather for casual-to-intermediate Bitcoin holders prioritizing payments and Lightning.
• OKX Wallet: OKX Wallet is a non-custodial multi-chain wallet supporting Bitcoin, Ordinals, and dozens of chains via browser extension and mobile. It overlaps with Leather on Bitcoin and Ordinals support and competes aggressively through integrations with major DEXs and swap aggregators.
• Phantom Wallet: Phantom is a leading multi-chain non-custodial wallet that started with Solana and has expanded into Bitcoin and Ethereum support. It competes directly with Leather for the same multi-chain self-custody user, with significantly larger installed base and brand recognition.

Regional players

• Zashi (Zcash wallet): Zashi is a non-custodial Zcash shielded wallet from the Electric Coin Company. It is structurally similar to Leather as a privacy/self-custody mobile wallet for a specific Bitcoin-adjacent chain, but serves a distinct privacy-coin user base rather than directly competing in the BTC/Stacks category.

Others

• Leather (formerly Hiro Wallet) rebranded to Leather in 2024. Bitflow Finance is a DEX aggregator for the Stacks and Bitcoin ecosystem, integrated as the primary swap engine inside Leather. It is more a partner/infrastructure provider than a peer, but competes indirectly for user engagement on token swaps and could disintermediate wallets by going direct-to-user.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/LeatherBTC
• GitHubgithub.com/leather-io
• YouTubeyoutube.com/@Leather-io

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

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 Leather