Turkish digital asset platform Paribu announced on Friday that it has acquired a majority stake in Bahrain- and Dubai-based cryptocurrency exchange CoinMENA, in a transaction valuing the company at up to 240 million dollars.
The acquisition positions Paribu as a stronger regional competitor © Mena Today
Turkish digital asset platform Paribu announced on Friday that it has acquired a majority stake in Bahrain- and Dubai-based cryptocurrency exchange CoinMENA, in a transaction valuing the company at up to 240 million dollars.
The deal marks Turkey’s largest fintech transaction ever and the country’s first cross-border acquisition of a digital asset platform.
Paribu CEO and founder Yasin Oral described the acquisition as a major milestone for the company, signalling its entry into the Middle East and North Africa’s rapidly expanding crypto markets.
“This deal is a turning point for Paribu,” Oral said. “With this acquisition, we have expanded our licensed operations across a wider geography, becoming a regulated player in one of the world’s most crypto-adoptive regions.”
The acquisition positions Paribu as a stronger regional competitor and reflects growing consolidation within the digital asset sector as regulated exchanges seek international scale.
Turkish President Recep Tayyip Erdogan wasted no time condemning the U.S.-Israeli strikes on Iran, calling them a "clear violation of international law" during a Ramadan fast-breaking dinner in Ankara on Monday.
Hundreds of Iranians crossed the border into Turkey on Monday afternoon as the U.S.-Israeli war against Iran expanded, a Reuters witness said, with those arriving speaking of fear in Tehran and queues at petrol stations.
Bahrain's Defence Force announced Sunday that its air defense systems had successfully intercepted and destroyed 61 missiles and 34 unmanned aerial vehicles launched by Iran against the kingdom, while warning citizens to remain indoors as the threat persists.
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