Al Abraaj Restaurants Group Becomes the First Publicly Listed Company in Bahrain to Adopt Bitcoin

Al Abraaj Restaurants Group has become the first publicly listed company in Bahrain to adopt Bitcoin as part of its corporate treasury. The Bahrain-based company partnered with U.S.

Al Abraaj Restaurants Group, a Bahrain-based publicly listed company, has become the first to include Bitcoin in its corporate treasury.

The company partnered with U.S. investment firm 10X Capital to integrate the cryptocurrency into its balance sheet.

The move further confirms growing interest in crypto assets among institutions and may encourage more regional firms in the Gulf region to follow suit. Al Abraaj’s decision also aligns it with global firms like Strategy (MicroStrategy) in the U.S. and Japan’s Metaplanet that have also added Bitcoin to their balance sheets.

Partnership with 10X Capital

As shared on X, Al Abraaj partnered with 10X Capital, a New York-based firm specializing in Bitcoin treasury services. 10X Capital previously advised Nakamoto on a $710 million capital raise, the largest private placement ever tied to a Bitcoin treasury firm.

The new partnership will support Al Abraaj’s plan to raise capital and buy more Bitcoin. The company aims to make the Bitcoin per share a key performance indicator (KPI) for shareholders.

Shariah-Compliant Exposure for Islamic Investors

A major goal of Al Abraaj’s strategy is to offer Shariah-compliant exposure to Bitcoin. The company plans to establish a financial vehicle tailored for Islamic investors seeking digital assets that align with religious principles.

"We are also mindful of our Islamic investors and are exploring Shariah-compliant structures to facilitate participation in this asset class," said an Al Abraaj spokesperson in a statement to CoinDesk.

By becoming a Bitcoin treasury company, Al Abraaj enables investors from Bahrain, Saudi Arabia, the UAE, Kuwait, Qatar, and Oman to access Bitcoin through a regulated, publicly traded stock.

Move Follows Recent IPO on Bahrain Bourse

The Bitcoin move comes after Al Abraaj’s initial public offering. The company was listed on the Bahrain Bourse in December 2024 with the ticker symbol “ABRAAJ.”

SICO Bank, which acted as lead manager for the IPO, hailed the listing as a significant achievement in the food and beverage sector. The listing included a bell-ringing ceremony attended by Bahrain Bourse executives, Al Abraaj leadership, and industry stakeholders.

Analysts See Broader Regional Implications

Crypto commentator Alva called the move a clear signal of growing institutional interest in Bitcoin across the Gulf region. In a post on X, it remarked that every such move adds to Bitcoin’s institutional narrative.

Meanwhile, X user Kanhiya Chauhan noted that Bitcoin adoption is no longer confined to the West. "From Wall Street to Manama, Bitcoin is being recognized as a serious hedge against fiat depreciation," he said.

The Gulf region continues to show increasing interest in blockchain and digital assets. Several fintech startups in the UAE and Saudi Arabia are exploring crypto solutions, and regulatory frameworks in some Gulf nations have become more crypto-friendly.