Paribu Acquires CoinMENA in $240M Deal
- Paribu confirms $240M acquisition of CoinMENA, expanding in MENA.
- Transaction marks Türkiye’s largest fintech acquisition.
- No immediate changes to user operations across both platforms.
Paribu has announced its acquisition of CoinMENA, a Bahrain and Dubai-licensed crypto exchange, in a deal valued up to $240 million, expanding its regulatory reach.
The acquisition signifies a major move in Türkiye’s fintech market, potentially enhancing regional MENA crypto collaborations and operations through enhanced licensing advantages.
Paribu, a leading crypto exchange from Türkiye, confirms it has acquired CoinMENA, securing licenses in Bahrain and Dubai. The deal is valued at up to $240 million, establishing it as the country’s largest fintech acquisition.
In this acquisition, Paribu’s CEO Yasin Oral describes the move as an expansion into one of the world’s most crypto-adopted markets. CoinMENA’s co-founders noted the potential to combine regulatory expertise with technological innovation in the MENA region.
Yasin Oral, Founder and CEO, Paribu, – “With this acquisition, we have expanded our licensed operations to a broader region, becoming a licensed player in one of the world’s most crypto-adopted markets, and we’re proud to lead Türkiye’s largest fintech acquisition and first international crypto deal.” Paribu Blog
The acquisition does not affect current operations at either Paribu or CoinMENA. Users’ transactions, deposits, and withdrawals remain unchanged. Both exchanges continue to operate with BTC, ETH, and major altcoins as trading assets.
Türkiye’s first international crypto transaction significantly impacts the local market, indicating increased cross-border crypto presence. Licenses acquired in Bahrain and Dubai are critical, enhancing Paribu’s regulatory foothold across multiple jurisdictions.
The regulatory landscape sees expanded influence from Turkish and Gulf authorities. Potential market shifts could include increased trading volume and broader fiat ramp integration within regional markets.
Paribu’s entry into the MENA region could drive further market consolidation. With expanded compliance, this initiative may pave the way for future crypto-fintech collaborations, reinforcing regional access to secure crypto services. Historical trends suggest increasing crypto adoption and market integration.
