Turkey’s Paribu Expands to MENA Region with $240 Million CoinMENA Acquisition
Paribu, Turkey's largest cryptocurrency exchange, has acquired a majority stake in CoinMENA, a Sharia-compliant digital asset platform based in Bahrain and Dubai. The deal, valued at up to $240 million, marks Turkey's largest fintech transaction and its first cross-border acquisition in the crypto space.
CoinMENA holds licenses from Bahrain’s Central Bank and Dubai’s VIRTUAL Assets Regulatory Authority, positioning Paribu to capitalize on the MENA region's rapid crypto adoption. The acquisition underscores the growing institutional interest in regulated digital asset platforms.
The move signals Paribu's strategic pivot toward emerging markets with high crypto penetration. Regulatory compliance remains a key driver for expansion as global exchanges seek footholds in jurisdictions with clear frameworks.
