TechFlow news, July 10 — According to Newsfilecorp, Sequans Communications (NYSE: SQNS) has announced the launch of a Bitcoin reserve strategy, purchasing 370 BTC in its initial acquisition. The IoT semiconductor supplier plans to accumulate over 3,000 BTC in the coming weeks, with funds from its recent issuance of common stock and convertible notes completed on July 7.
Sequans has selected Coinbase Prime as its digital asset custodian platform, providing secure and compliant infrastructure support. Georges Karam, CEO of Sequans, stated, "This move reflects our confidence in Bitcoin as a long-term store of value." Earlier reports indicated that Sequans announced a $384 million financing initiative to launch its Bitcoin reserve program.
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