Turkey's largest fintech acquisition: Paribu acquired CoinMENA for $240 million

Source: BTCHaber Original Title: Türkiye’s largest fintech acquisition: Paribu acquires CoinMENA for $240 million Original Link: Paribu has acquired CoinMENA, the largest local cryptocurrency asset trading platform in the Middle East and North Africa (MENA) region, in a deal that could reach up to $240 million. The deal marks Turkey’s largest fintech acquisition to date.

Details of the Deal

Paribu, which develops innovative blockchain-based products and services, has signed Turkey’s largest merger and acquisition in the fintech sector with the CoinMENA deal. Additionally, Paribu has made Turkey’s first international acquisition in the crypto industry.

CoinMENA’s License and Operations

Founded in Bahrain in 2020 by Talal Tabbaa and Dina Sam’an, CoinMENA operates as a licensed crypto asset service provider through its company, CoinMENA B.S.C. The Dubai-based CoinMENA FZE operates under a virtual asset service provider (VASP) license issued by the Dubai Virtual Assets Regulatory Authority (VARA).

Having raised nearly $20 million from investors so far, CoinMENA serves over 1.5 million users across more than 45 countries. It offers trading in more than 50 cryptocurrencies with multiple local currencies, including the US dollar, Bahraini Dinar, United Arab Emirates Dirham, and Saudi Riyal. With institutional services such as over-the-counter (OTC) infrastructure, CoinMENA positions itself among the leading crypto asset platforms in the MENA region.

Management Statements

Sharing his views on the deal, Paribu Founder and CEO Yasin Oral said, “This deal is a milestone not only for Paribu but also for the crypto asset and finance ecosystem in Turkey and MENA. We are proud to sign Turkey’s largest financial technology sector deal and its first international agreement in the crypto vertical.”

Yasin Oral emphasized that MENA is among the markets with the highest crypto adoption, stating, “As of 2025, we have completed our license applications for our platform and custody service. With our ColdShield® technology developed by Paribu engineers, we have set new standards in digital asset storage both in Turkey and globally.”

CoinMENA Co-founders Talal Tabbaa and Dina Sam’an said, “Partnering with Paribu will help accelerate this momentum. By combining CoinMENA’s regional expertise with Paribu’s technological capabilities, we are preparing to develop a comprehensive financial product ecosystem that will empower users in Turkey and the MENA region.”