Paribu, one of Turkey’s largest crypto and fintech companies, is making a major move beyond its home market. The company has agreed to acquire CoinMENA, a leading digital asset exchange in the Middle East and North Africa, in a deal valued at up to $240 million. The acquisition gives Paribu immediate access to two of the region’s most established regulatory environments and strengthens its position as a multi-jurisdictional operator.
Announced on Thursday, the deal hands Paribu CoinMENA’s broker-dealer virtual asset service provider license from Dubai’s Virtual Assets Regulatory Authority (VARA) and its crypto asset service provider license from the Central Bank of Bahrain (CBB). In a sector where licensing footprints often determine competitiveness, the acquisition places Paribu among a select group of regulated exchanges operating across multiple MENA jurisdictions.
CoinMENA
Paribu founder and CEO Yasin Oral called the move a defining moment for both the company and the broader digital asset ecosystem in Turkey and the region. He said CoinMENA represents the ideal partner to accelerate Paribu’s cross-border ambitions.
CoinMENA’s co-founders, Talal Tabbaa and Dina Sam’an, shared the sentiment. In a joint statement, they described the acquisition as the most important milestone in the company’s development. By pairing CoinMENA’s regional market knowledge with Paribu’s technology, they said the combined company will be well-positioned to deliver a wider range of digital asset services across Turkey and the MENA region.
Founded in 2020, CoinMENA has established itself as a key regulated exchange with more than 1.5 million users across 45 countries. It offers access to over 50 cryptocurrencies and has raised roughly $20 million from backers including BECO Capital, Arab Bank Switzerland, Circle, and Bunat Ventures. Its licenses in Dubai and Bahrain have made it a standout operator in a region where many exchanges still operate without full regulatory approval.
Paribu, launched in 2017, has spent the past two years building toward a broader regional presence. In 2024, it introduced Paribu Custody, which it describes as Turkey’s first domestic digital asset custody platform. The service uses the firm’s ColdShield security system and represents a central part of Paribu’s compliance-forward strategy. In October, the company received approval from Turkey’s Capital Markets Board to launch a brokerage firm, marking its formal entry into the national capital markets ecosystem.
The acquisition of CoinMENA strengthens that roadmap. Paribu gains regulatory scale and access to new markets, while CoinMENA gains deeper technical and operational backing. Together, the two companies aim to expand regulated digital asset services across one of the world’s fastest-growing crypto regions.
