Paribu is announcing Turkey’s latest fintech deal by acquiring CoinMENA, the local crypto exchange in the MENA region, in a transaction “for up to $240 million.” The transaction reportedly represents one of Turkey’s largest fintech acquisition to date and the country’s cross-border crypto deal.
The deal comes at a time when crypto related M&A activity is growing; 95 crypto M&A transactions had been announced in Q3 2025 alone, according to the Architect Partners Q3 2025 Crypto M&A and Financing Report.
Amid this latest Fintech trend, Paribu noted in a blog post that it now brings the momentum of crypto industry consolidation to the MENA region.
Established back in 2020 by Talal Tabbaa and Dina Sam’an, CoinMENA operates in Middle Eastern country of Bahrain under its licensed entity CoinMENA B.S.C, and in Dubai via CoinMENA FZE with a Virtual Asset Service Provider (VASP) license that has been granted by the Dubai Virtual Assets Regulatory Authority (VARA).
The acquisition of CoinMENA positions Paribu as licensed platform in the region. Paribu says it has operating permit applications in Turkey for a crypto asset trading platform and a custody service, and also “holds authorization from the Capital Markets Board (CMB) to establish a broadly authorized brokerage firm.”
As noted in the update, CoinMENA offers users from more than 45 countries the ability to trade “over 50 crypto assets in eight local currencies, in addition to the US dollar.”
CoinMENA has raised “nearly 20 million dollars in investments to date from backers including BECO, Arab Bank Switzerland, Circle, and Bunat Ventures.”
Paribu aims to extend its strength in traditional capital markets and next-generation finance in Turkey across the broader region.
As one of the nearest and “high-potential” markets, the MENA region aligns with Paribu’s international growth strategy.
With this acquisition, Paribu obtains licenses in one of the markets with the highest crypto adoption and becomes able to “operate actively there, gaining direct access to the region’s dynamic ecosystem.”
CoinMENA has become a fairly established platform in the region, operating with licenses in two countries.
It holds licenses in both Bahrain and Dubai.
As clarified in the update, the agreement does “not introduce any changes to the operations” of Paribu or CoinMENA.
Accordingly, the announcement confirmed that there will reportedly be “no impact on Paribu users’ crypto transactions, deposit, or withdrawal processes.”
