Connecting Excellence Group Plc (AQSE:XCE) has announced the launch of a Bitcoin-denominated convertible bond programme and confirmed further Bitcoin acquisitions as part of its treasury strategy.
The company said the 2026 BTC-denominated convertible bond programme is intended to support post-IPO capital raising.
The first bond, issued on 31 December 2025, totals ten Bitcoin and has been signed by several institutional investors, including Adam Back. Settlement of the Bitcoin is expected in mid-January 2026.
Proceeds will be used entirely to execute the group’s Bitcoin treasury strategy.
“The launch of the 2026 XCE BTC denominated convertible bond programme marks a milestone in our post-IPO strategy with the development of a scalable BTC instrument that benefits both our equity and bond investors,” said chief executive Scott Ellam.
The bonds are zero-coupon instruments with a twelve-month maturity and include conversion features linked to both the share price and Bitcoin price.
Separately, the company confirmed additional Bitcoin purchases of 16.58 Bitcoin made up to 2 January 2026 at a total cost of £1.08 million, taking total holdings to 41.36 Bitcoin