Paribu, one of Turkey’s largest digital asset platforms, has acquired crypto exchange CoinMENA for up to $240 million, marking the country’s largest fintech acquisition and its first cross-border crypto deal, the company announced on Friday.
CoinMENA, headquartered in Bahrain and operating with licenses in both Bahrain and Dubai, is one of the leading local exchanges in the Middle East and North Africa (MENA) region.
The acquisition gives Paribu an immediate regulatory foothold in jurisdictions that have become digital asset hubs, including Dubai, which has been licensing crypto companies under its Virtual Asset Regulatory Authority (VARA).
The move reflects a broader wave of consolidation in the crypto industry. According to a report by Architect Partners, a total of 95 mergers and acquisitions were announced globally in the third quarter of 2025 alone.
By acquiring CoinMENA, Paribu positions itself as a licensed exchange, expanding into a region that has been rapidly adopting cryptocurrencies. CoinMENA serves more than 1.5 million users in more than 45 countries and offers trading in eight local currencies plus the US dollar. It has raised nearly $20 million from investors including Arab Bank Switzerland and Circle.
For now, users of both platforms will see no changes to operations, the companies said.
