Paribu, one of Turkey’s largest digital assets 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, based in Bahrain and operating with licenses in 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 footing in jurisdictions that have become hubs for digital assets, including Dubai, which has licensed crypto companies under its Virtual Assets Regulatory Authority (VARA).
The move reflects a broader wave of consolidation in the crypto industry. A total of 95 mergers and acquisitions were announced globally in the third quarter of 2025 alone, according to a report from Architect Partners.
By acquiring CoinMENA, Paribu is positioning itself as a licensed exchange, expanding into a region that has rapidly adopted crypto. CoinMENA serves more than 1.5 million users in over 45 countries, offering transactions 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 not see any changes to their operations, the companies said.
