Turkish crypto exchange Paribu buys majority stake in competitor CoinMENA
Turkish crypto exchange Paribu acquired a majority stake in Sharia-compliant CoinMENA for up to $240 million.Summary
Turkish cryptocurrency exchange Paribu has purchased a majority stake in CoinMENA, a Sharia-compliant exchange licensed in Dubai and Bahrain, in a deal valuing CoinMENA at up to $240 million. Paribu claims this transaction is Türkiye’s largest fintech deal to date and the country's first cross-border acquisition of a digital asset platform. Paribu's CEO, Yasin Oral, stated that the acquisition expands their licensed operations into the Middle East and North Africa (MENA) region, marking a new chapter in Paribu's growth and contributing to global digital asset industry consolidation. This move follows recent regulatory developments in the MENA region, including Ripple’s stablecoin clearance in Abu Dhabi and Bybit securing a license in the UAE.
(Source：Cointelegraph)