PANews reported on May 25 that according to Globenewswire, Al Abraaj Restaurant Group, listed on the Bahrain Stock Exchange, announced that it has purchased 5 bitcoins as part of its balance sheet, becoming the first listed company in the Kingdom of Bahrain, the Gulf Cooperation Council (GCC) and the Middle East to purchase Bitcoin as a treasury asset.

Al Abraaj also said it would continue to purchase Bitcoin as a company treasury asset in partnership with 10X Capital and implement strict custody, portfolio risk management and governance policies to oversee its Bitcoin holdings.