Connecting Excellence Group receives Bitcoin payment for recruitment services in UK-listed first
Connecting Excellence Group Plc (AQSE:XCE, OTCQB:XCELF), the international executive recruitment firm that holds Bitcoin as a core treasury asset, has received 0.516 Bitcoin worth approximately £27,472 as payment for executive recruitment services provided through its flagship business, Spencer Riley.
The company believes this marks the first time a UK-listed recruitment business has both invoiced and settled service fees in Bitcoin.
The Bitcoin has been retained directly in the group's treasury and will not be converted to fiat currency, in keeping with XCE's strategy of accumulating Bitcoin on its balance sheet without deploying additional capital or issuing new equity.
The receipt takes the group's total Bitcoin holdings to 52.941 BTC.
XCE calculates its Bitcoin yield, a measure of BTC accumulation relative to shares outstanding, at 0.98% quarter-to-date in the second quarter of 2026, and at 442.2% since the company's IPO on 11 December, a figure that includes 10 BTC raised through an XCE Bitcoin bond.
Chief executive Scott Ellam described the payment as a landmark moment.
And he said the transaction demonstrated the company's dual flywheel model working as intended, with the recruitment business generating revenue, that revenue generating Bitcoin, and that Bitcoin compounding on the balance sheet.
Ellam said XCE intended to make Bitcoin settlement a standard offering across its client base, and expected the channel to grow as corporate adoption of the cryptocurrency continued to expand.
Spencer Riley places senior executives across engineering, logistics, life sciences, automation, technology and professional services sectors globally.
XCE is also building a dedicated Bitcoin executive recruitment division, designed to match executives with roles at Bitcoin-focused businesses and to support traditional companies seeking to hire staff with Bitcoin expertise.
The company said it would continue offering Bitcoin as a payment option across Spencer Riley's client and candidate network, and expected further settlements of this kind as corporate familiarity with Bitcoin grows.
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