Sequans Communications S.A. (SQNS) acquired 370 bitcoin as part of a newly launched bitcoin treasury strategy, the company announced. The purchase was funded using proceeds from the company’s recent offering of ordinary shares and convertible debentures, which closed on July 7, 2025.

The cellular IoT semiconductor provider plans to accumulate over 3,000 bitcoin in the coming weeks, according to CEO Georges Karam. "This initiative reflects our confidence in bitcoin as a long-term store of value for our shareholders," Karam stated.

Sequans selected Coinbase as custodian for the bitcoin holdings. The company will use Coinbase Prime, a prime brokerage platform that provides institutional-grade custody services.

Ryan Ballantyne, Head of Coinbase’s Corporate Treasury Strategy, said the platform would provide "a secure, compliant, and scalable platform for their digital asset needs."

The Paris-based company adopted bitcoin as a primary treasury reserve asset in June 2025. Sequans develops cellular IoT semiconductors and provides integrated circuits, modules, software, and protocol stacks for wireless connectivity applications.

Founded in 2003, Sequans operates globally with offices in the United States, United Kingdom, Switzerland, Israel, Hong Kong, Singapore, Finland, Taiwan, and China.