Paribu, a leading digital asset platform in Turkey, has announced the acquisition of the crypto exchange CoinMENA for up to $240 million. This transaction represents Turkey’s most significant fintech acquisition and marks its first cross-border crypto arrangement, as stated by the company on Friday.
CoinMENA, headquartered in Bahrain and operating under licenses in both Bahrain and Dubai, ranks among the premier local exchanges in the Middle East and North Africa (MENA) region.
This acquisition allows Paribu to establish itself in regions that are becoming central hubs for digital assets, particularly in Dubai, where the Virtual Assets Regulatory Authority (VARA) has been issuing licenses to crypto businesses.
The deal is part of a wider trend of consolidation within the crypto industry. In the third quarter of 2025, there were a total of 95 mergers and acquisitions reported globally, per a report by Architect Partners.
With the acquisition of CoinMENA, Paribu is positioning itself as a licensed exchange and expanding into a rapidly growing market for cryptocurrencies. CoinMENA supports over 1.5 million users across more than 45 countries, facilitating trades in eight local currencies in addition to the U.S. dollar. The platform has attracted nearly $20 million from investors, including Arab Bank Switzerland and Circle.
Currently, users of both platforms will not experience any changes in operations, as confirmed by the companies.
