Turkey's digital asset platform Paribu has acquired CoinMENA, a regulated crypto exchange in the Middle East and North Africa (MENA) region with operations in Bahrain and the UAE. This acquisition values CoinMENA 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. The exchange has raised nearly $20 million in total funding from investors including BECO, Arab Bank Switzerland, Circle, and Bunat Ventures. CoinMENA serves over 1.5 million users across 45 countries, offering access to more than 50 cryptocurrencies and supporting multiple local currencies across the MENA region.
This transaction represents Turkey's largest fintech deal to date and the country's first cross-border acquisition of a crypto brokerage platform.
Paribu Expands into the MENA Region
Paribu has now extended its operations beyond Turkey into the GCC region, a move similar to CoinDCX's acquisition of BitOasis, another UAE-based, regulated crypto exchange. Both Paribu and CoinDCX will leverage the licenses held by CoinMENA and BitOasis in the UAE, granted by Dubai's Virtual Asset Regulatory Authority, and in Bahrain by the Central Bank of Bahrain.
Yasin Oral, Founder and CEO of Paribu, described the transaction as a pivotal moment for Paribu, the digital asset sector, and the 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."
Oral further 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, expressed that the combination of CoinMENA’s regional expertise with Paribu’s technology will enable them to develop a comprehensive suite of digital asset products for users across Turkey and MENA. They noted, "This acquisition is the most transformative milestone in CoinMENA’s history. Paribu’s investment validates the strength of what we have built."
We’re excited to share that CoinMENA has been acquired by @ParibuCom in a transaction valued at up to USD 240 million! This acquisition strengthens our global presence, accelerates innovation, and allows us to deliver even more value and opportunities to our users across MENA… pic.twitter.com/HrkC4uZpRy
— CoinMENA | كوين مينا (@CoinMENA) December 5, 2025
Turkey's Leading Role in Crypto Adoption
The Chainalysis 2024 Geography of Cryptocurrency report highlighted MENA as the seventh-largest crypto market globally in 2024, with Turkey and Morocco leading in crypto adoption. The report also indicated that Saudi Arabia and Qatar are the fastest-growing crypto countries, with Saudi Arabia experiencing a 154% year-over-year growth.
According to a Chainalysis report from 2025, Turkey emerged as the leading crypto market in the MENA region, processing nearly $200 billion in transactions. Additionally, Jordan ranked among the top 10 global countries for crypto adoption when considering population size. Despite this, MENA saw a modest 33% growth in crypto adoption, suggesting a slower pace compared to other emerging markets, although the total transaction volume still surpassed half a trillion dollars.