Paribu, one of Turkey’s largest digital asset platforms, announced on Friday that it has acquired cryptocurrency exchange CoinMENA for up to $240 million. This is the country’s largest financial technology acquisition and the country’s first cross-border crypto transaction.
Headquartered in Bahrain and with operating licenses in Bahrain and Dubai, CoinMENA is one of the top local exchanges in the Middle East and North Africa (MENA) region.
The acquisition gives Paribu direct regulatory footing in a jurisdiction that has become a hub for digital assets, including Dubai, which has been issuing licenses to 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, in the third quarter of 2025 alone, a total of 95 M&A transactions were announced globally.
With the acquisition of CoinMENA, Paribu positions itself as a licensed exchange to expand into regions that are rapidly adopting cryptocurrencies. CoinMENA serves over 1.5 million users in over 45 countries, offering 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 the two platforms will not see operational changes, the companies said.