In a strategic expansion that signals growing confidence in Middle Eastern crypto markets, Turkey's leading digital asset exchange Paribu has acquired Dubai-based CoinMENA for $240 million. The landmark deal positions Paribu to tap into one of the world's fastest-growing cryptocurrency regions while strengthening its foothold beyond Turkish borders.
Turkish cryptocurrency powerhouse Paribu has announced its acquisition of CoinMENA, a Dubai-headquartered digital asset platform, in a deal valued at $240 million. The transaction marks one of the most significant cross-border crypto exchange acquisitions in the Middle East and North Africa (MENA) region to date.
The strategic acquisition allows Paribu to expand its operations into high-growth markets across the Gulf Cooperation Council (GCC) countries, where cryptocurrency adoption has been accelerating rapidly. CoinMENA, which holds regulatory licenses in Bahrain and has been serving customers across the MENA region, brings valuable compliance infrastructure and market access that would have taken years for Paribu to develop independently.
Paribu, which has established itself as Turkey's dominant cryptocurrency exchange with millions of users, has been actively seeking international expansion opportunities as it faces regulatory uncertainties at home. Turkey's relationship with cryptocurrency has been complex, with the country implementing strict regulations while simultaneously witnessing massive retail interest in digital assets, particularly during periods of lira volatility.
The deal comes at a time when Middle Eastern nations are positioning themselves as global crypto hubs. The United Arab Emirates, in particular, has been rolling out comprehensive regulatory frameworks designed to attract cryptocurrency businesses, while traditional financial centers like Bahrain have been licensing digital asset operators to diversify their financial services sectors.
For CoinMENA, the acquisition provides access to Paribu's technological infrastructure, liquidity, and operational expertise. The combined entity will be better positioned to compete with international exchanges operating in the region, including Binance and other global players that have been establishing Middle Eastern operations.
Industry analysts view the transaction as indicative of a broader consolidation trend in the cryptocurrency exchange sector, where regional players are joining forces to achieve the scale necessary to compete globally. The $240 million valuation also reflects investor confidence in the long-term growth potential of cryptocurrency adoption across emerging markets, particularly in regions with young, tech-savvy populations and evolving regulatory frameworks that support digital innovation.