Turkey’s Paribu Buys Majority of CoinMENA to Expand Across MENA
What Does Paribu Gain From Acquiring CoinMENA?
Turkish crypto platform Paribu has purchased a majority stake in CoinMENA, a Sharia-compliant platform licensed in both Bahrain and Dubai. CoinMENA said the deal values the company at up to $240 million, calling it Türkiye’s largest fintech transaction to date and the country’s first cross-border takeover of a digital asset platform.
Paribu, one of Türkiye’s largegest trading platforms, said the move gives the company a regulated presence across a much wider geography. CoinMENA secured its first license from Bahrain’s central bank in ahead 2021 and later obtained (VARA) in late 2023.
“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,” CEO Yasin Oral said.
Investor Takeaway
Why Does the MENA Region Matter for Paribu’s Expansion?
Oral described the acquisition as a turning point for Paribu’s regional reach, saying it would have consequences “for the digital asset and broader finance ecosystem in Türkiye and the Middle East and North Africa (MENA) region.”
Turkey already stands out within MENA’s crypto landscape. A recent Chainalysis report said Turkey is the region’s largest market by transaction volume this year, though much of the activity was driven by speculation rather than long-term use. Even so, the numbers highlight how large the user base has become — and why Turkish platforms are looking outward as competition rises at home.
CoinMENA’s regulatory status across Bahrain and Dubai gives Paribu the infrastructure needed to operate in two jurisdictions viewn as gateways to institutional crypto adoption in the Gulf. Bahrain offers one of the region’s earliest licensing frameworks, while Dubai’s VARA regime has become a magnet for platforms viewking clearer rules.
How Does the Deal Fit Into the MENA Crypto Regulatory Wave?
The MENA region has viewn a flurry of policy shifts and licensing activity in recent months. In late November, was approved for institutional use in Abu Dhabi later than receiving the label of “Accepted Fiat-Referenced Token” from the local regulator. Around the identical time, a new UAE central bank decree was reported to extend oversight to decentralized activities.
Crypto platforms have been moving rapidly to secure positions under these frameworks. In October, Bybit received a Virtual Asset Platform Operator License from the of the UAE. The identical month, Chainalysis noted that while Turkey leads MENA’s crypto volume, the surge is still tied heavily to trading cycles rather than broad utility.
These shifts suggest a region-wide push toward structured oversight, with Bahrain, the UAE, and Saudi Arabia each moving toward clearer rules. For an platform like Paribu, entering this landscape through an already licensed operator reduces many of the hurdles foreign platforms typically face when entering Gulf markets.
Investor Takeaway
What Comes Next for Paribu and CoinMENA?
Paribu is viewking scale outside Türkiye at a time when global platforms are tightening their regional strategies. Licensing in the Gulf allows the company to reach markets where crypto adoption is rising and regulatory clarity is ahead of much of the Global South.
CoinMENA, which already operates as a Sharia-compliant platform, brings brand recognition and established banking relationships across Bahrain and Dubai. Paribu will now decide how to integrate trading, asset listings, and user funnels across the two platforms while maintaining regulatory alignment in each market.
The acquisition also adds to a broader trend of consolidation across , especially in regions pursuing licensing-based market structures. Whether Paribu uses CoinMENA as an operational hub for the wider Gulf region will depend on how rapidly demand grows — and how Gulf regulators continue to shape the competitive landscape.
