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.
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