Paribu expands into MENA with CoinMENA takeover

Turkey’s digital asset platform Paribu has acquired CoinMENA, a regulated crypto exchange in the Middle East and North Africa (MENA), with operations in Bahrain and the UAE.

With the acquisition, CoinMENA is now valued at up to $240 million. Founded in 2020 by Talal Tabbaa and Dina Sam’an, CoinMENA is a licensed crypto asset service provider operating under the regulatory authorities of Bahrain and Dubai.

CoinMENA has raised nearly $20 million in total funding from investors, including BECO, Arab Bank Switzerland, Circle, and Bunat Ventures.

CoinMENA serves more than 1.5 million users across 45 countries, offering access to over 50 cryptocurrencies and supporting multiple local currencies across the MENA region.

As per the announcement, this is Turkey’s largest fintech transaction to date and the country’s first cross-border acquisition of a crypto brokerage platform.

Paribu expands from Turkey into the MENA region

Paribu has now expanded its operations outside of Turkey into the GCC region, just as CoinDCX did with its acquisition of BitOasis, another UAE homegrown, regulated crypto exchange.

Both Paribu and CoinDCX will utilize the licenses that CoinMENA and BitOasis have in the UAE with Dubai’s Virtual Asset Regulatory Authority, and in Bahrain with the Central Bank of Bahrain.

Yasin Oral, Founder and CEO of Paribu, noted that the transaction was a turning point not only for Paribu, but also for the digital assets and broader ecosystem in Turkey and the MENA region.

He stated, “With this acquisition, we have expanded our licensed operations to a wider geography, becoming a regulated player in one of the world’s most crypto-adoptive markets.”

He added, “With this step, we are opening a new chapter in Paribu’s growth journey, extending our presence into the MENA region and contributing to the ongoing consolidation of the global digital asset industry, building on the strong foundation we have established in Türkiye.”

Talal Tabbaa and Dina Sam’an, Co-Founders of CoinMENA, also expressed that the combination of CoinMENA’s regional expertise with Paribu’s technology will allow them to develop a comprehensive suite of digital asset products for users across Turkey and MENA. 

The duo noted, “This acquisition is the most transformative milestone in CoinMENA’s history. Paribu’s investment validates the strength of what we have built.” 

Turkey leads in crypto adoption in 2024 and 2025

In the Chainalysis 2024 Geography of Cryptocurrency report, it noted that MENA was the seventh largest crypto market globally in 2024, with the biggest two crypto countries being Turkey and Morocco.

In addition, it noted that the fastest-growing crypto countries are Saudi Arabia and Qatar. Saudi Arabia remains the fastest-growing crypto economy in the MENA region, growing by 154% year-over-year.

According to a Chainalysis report in 2025, Turkey became the leading crypto market in the MENA region, handling nearly $200 billion in transactions. Additionally, Jordan did make top 4 out of top 10 global adoption by country when taking into it the population.

MENA saw a modest 33% growth, suggesting a slower pace of adoption relative to other emerging markets, though total volume still exceeded half a trillion dollars.

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