Crane Currency – People, Purpose, and Paper Money

It’s an exciting time for Crane NXT. Crane NXT (‘CXT’ – NYSE) just completed the acquisition of De La Rue’s Authentication business, and combined it with its existing portfolio, the Smart Packaging assets of TruTag and brand protection specialist OpSec (acquired in 2024) to form a new company – Crane Authentication. Together with Crane Currency, these form the newly-created business unit Security & Authentication Technologies (SAT), which sits alongside Crane Payment Innovations.

It was just over two years ago that Crane NXT, then comprised of Crane Payment Innovations (CPI) and Crane Currency, was spun out of the engineered industrial materials company, Crane Co. At the close of 2023, Crane NXT reported a currency business backlog of $105MM.

Earlier this month, Crane NXT reported a backlog of over $400MM, and while that figure includes its recent acquisitions, the currency component’s ‘record-high backlog, and book-to-bill ratio of 2.4’, suggests that the currency industry’s innovator of such renowned security features as MOTION® and RAPID® is enjoying robust growth.