Paribu don buy CoinMENA for up to $240M, dem secure VARA and CBB licences for MENA expansion

Turkish crypto exchang Paribu don buy majority stake for CoinMENA for deal wey value reach up to $240 million, and this na Turkey biggest fintech transaction and Paribu first cross-border digital-asset acquisition. CoinMENA dey Sharia-compliant and get licences from Dubai VARA and Central Bank of Bahrain (CBB). The purchase give Paribu regulated access to VARA and CBB licences, user base of about 1.5 million across 45 countries, support for more than 50 cryptocurrencies, and multi-currency MENA payment rails. CoinMENA wey dem found for 2020 raise around $20 million from investors including BECO, Arab Bank Switzerland and Circle. Paribu don recently expand regulated services (including Paribu Custody) and get domestic approvals to set up brokerage, and dem say the acquisition go speed up compliance-driven regional expansion, increase cross-border liquidity, broaden trading services, and quicken product development across Türkiye and MENA. Paribu CEO Yasin Oral call the deal turning point for Türkiye and MENA fintech. Key trading implications: access to regulated MENA order flow fit raise regional volumes and liquidity; integration risk and execution timelines fit cause short-term uncertainty; long-term outcome likely go increase Paribu’s market reach and service depth.