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Paribu Acquires CoinMENA in $240 Million Regional Expansion Deal

Paribu Acquires CoinMENA in $240 Million Regional Expansion Deal

According to the company’s official statement, Paribu’s $240 million acquisition of CoinMENA secures MENA regulatory licenses, marking Turkey’s largest fintech transaction and first cross-border crypto exchange purchase.

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Summary

Paribu, a Turkey-based cryptocurrency exchange, officially announced it has acquired MENA-based CoinMENA for $240 million, in what it states is Turkey’s largest fintech deal to date and its first cross-border crypto platform purchase. The acquisition grants Paribu digital asset licenses from Dubai’s Virtual Assets Regulatory Authority and the Central Bank of Bahrain, enabling it to operate in both jurisdictions and expand into the Middle East and North Africa’s fast-growing crypto markets.

Terms & Concepts
  • VARA (Dubai Virtual Assets Regulatory Authority): Dubai’s regulatory body overseeing virtual asset activities, including licensing for cryptocurrency businesses.
  • Bahrain Central Bank License: A legal authorization from Bahrain’s financial regulator allowing operation of cryptocurrency and virtual asset services.