Paribu Makes Strategic Acquisition of CoinMENA, Expanding into the MENA Crypto Market
Strategic Growth in the Crypto Sphere
Paribu, a prominent player in Türkiye’s digital asset space, has made headlines with its recent acquisition of CoinMENA, the largest local cryptocurrency exchange in the MENA (Middle East and North Africa) region. Valued at up to USD 240 million, this strategic move underscores Paribu's ambition to expand its footprint into a region known for its high cryptocurrency adoption rates. This acquisition marks Türkiye's largest fintech transaction to date and the first cross-border acquisition in the digital asset sector for the country.
With the acquisition of CoinMENA, Paribu is positioned to access an extended regulatory framework that includes licenses from Dubai's Virtual Assets Regulatory Authority (VARA) and the Central Bank of Bahrain. This further solidifies Paribu's role as one of the few regulated multi-jurisdiction operators in the MENA region, paving the way for compliance-driven growth into new markets. By aligning with a recognized entity like CoinMENA, Paribu not only enhances its operational capabilities but also its competitive edge in the burgeoning digital asset landscape.
CoinMENA's Impact and Background
Founded in 2020 by Talal Tabbaa and Dina Sam'an, CoinMENA has quickly established itself as a key player in the cryptocurrency exchange sector, serving over 1.5 million users across 45 countries. The platform, officially recognized by both Bahraini and Dubai regulatory authorities, has raised nearly USD 20 million in funding, attracting investments from notable firms including BECO, Arab Bank Switzerland, Circle, and Bunat Ventures. With access to over 50 cryptocurrencies, CoinMENA supports multiple local currencies, creating a seamless trading experience for users in the region.
Paribu's founder and CEO, Yasin Oral, described the acquisition as a
Paribu, a prominent player in Türkiye’s digital asset space, has made headlines with its recent acquisition of CoinMENA, the largest local cryptocurrency exchange in the MENA (Middle East and North Africa) region. Valued at up to USD 240 million, this strategic move underscores Paribu's ambition to expand its footprint into a region known for its high cryptocurrency adoption rates. This acquisition marks Türkiye's largest fintech transaction to date and the first cross-border acquisition in the digital asset sector for the country.
With the acquisition of CoinMENA, Paribu is positioned to access an extended regulatory framework that includes licenses from Dubai's Virtual Assets Regulatory Authority (VARA) and the Central Bank of Bahrain. This further solidifies Paribu's role as one of the few regulated multi-jurisdiction operators in the MENA region, paving the way for compliance-driven growth into new markets. By aligning with a recognized entity like CoinMENA, Paribu not only enhances its operational capabilities but also its competitive edge in the burgeoning digital asset landscape.
CoinMENA's Impact and Background
Founded in 2020 by Talal Tabbaa and Dina Sam'an, CoinMENA has quickly established itself as a key player in the cryptocurrency exchange sector, serving over 1.5 million users across 45 countries. The platform, officially recognized by both Bahraini and Dubai regulatory authorities, has raised nearly USD 20 million in funding, attracting investments from notable firms including BECO, Arab Bank Switzerland, Circle, and Bunat Ventures. With access to over 50 cryptocurrencies, CoinMENA supports multiple local currencies, creating a seamless trading experience for users in the region.
Paribu's founder and CEO, Yasin Oral, described the acquisition as a
Topics Financial Services & Investing）
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