Turkey’s Paribu to buy CoinMENA in deal worth up to $240 million, adding Dubai and Bahrain licenses
Turkish crypto firm Paribu acquired Middle East exchange CoinMENA for up to $240 million to gain Dubai and Bahrain licenses.Summary
Turkish fintech leader Paribu has acquired CoinMENA, the largest local cryptocurrency exchange in the Middle East and North Africa (MENA), in a transaction valued up to $240 million. This strategic move is intended to significantly expand Paribu's cross-border presence and compliance-led expansion strategy.
Through the acquisition, Paribu immediately gains crucial regulatory access, inheriting a broker-dealer virtual asset service provider license from Dubai’s VARA and a crypto asset service provider license from the Central Bank of Bahrain (CBB). This positions Paribu as one of the few regulated, multi-jurisdictional operators in the MENA region.
Paribu CEO Yasin Oral called the deal a turning point, while CoinMENA founders Talal Tabbaa and Dina Sam’an noted that combining CoinMENA's regional expertise with Paribu's technology will allow them to develop a comprehensive suite of digital asset products across the region.
(Source：The Block)