Turkey's Paribu Acquires CoinMENA for up to $240 Million, Expanding into High-Growth Crypto Markets
Paribu, one of Turkey's largest digital asset platforms, has announced the acquisition of Bahrain- and Dubai-based CoinMENA for up to $240 million. This deal marks Turkey's biggest fintech acquisition to date and represents Paribu's first international crypto merger and acquisition.
CoinMENA, headquartered in Bahrain, holds licenses in both Bahrain and Dubai and serves over 1.5 million users across more than 45 countries. The platform facilitates trading in eight local currencies in addition to the US dollar. Through this acquisition, Paribu gains regulatory footing in Dubai under the Virtual Assets Regulatory Authority (VARA) as well as in Bahrain, expanding its presence in these key Middle Eastern markets.
CoinMENA has raised nearly $20 million from investors including Arab Bank Schweiz based in Switzerland and Circle. Despite the acquisition, user operations on both Paribu and CoinMENA platforms will remain unchanged for the time being.
The deal reflects the ongoing consolidation within the cryptocurrency industry, with 95 mergers and acquisitions announced globally in the third quarter of 2025 according to Architect Partners.
