Paribu Acquires CoinMENA in Landmark $240M Deal, Marking Turkey’s Largest Fintech Transaction
Turkish crypto platform Paribu has solidified its Middle East expansion with the acquisition of Bahrain-based CoinMENA, valuing the regulated exchange at up to $240 million. The deal represents Turkey's first cross-border crypto brokerage purchase and its largest fintech transaction to date.
CoinMENA, founded in 2020 by Talal Tabbaa and Dina Sam'an, operates under Bahrain and Dubai regulators with licenses covering over 1.5 million users across 45 countries. The platform supports 50+ cryptocurrencies and multiple local fiat currencies, having raised $20 million from investors including Arab Bank Switzerland and Circle.
The acquisition mirrors CoinDCX's recent purchase of BitOasis, as both Paribu and its Indian counterpart leverage existing regulatory approvals in the GCC region. Yasin Oral, Paribu's CEO, called the transaction "a turning point" for digital asset ecosystems in both Turkey and MENA markets.
