Turkey’s Paribu has acquired CoinMENA, a regulated exchange based in Bahrain and Dubai, for up to $240 million, marking Paribu’s expansion into the MENA region.
This acquisition enhances Paribu’s regional presence and diversifies its offerings, potentially increasing cryptocurrency liquidity and trading volumes in the MENA market.
Turkey’s leading crypto exchange, Paribu, announced the acquisition of CoinMENA, a regulated exchange in Bahrain and Dubai, in a deal valued at approximately $240 million. This acquisition marks a strategic expansion for Paribu into the MENA region, enhancing its regulatory reach and market presence.
The acquisition involves prominent figures like Yasin Oral, Founder and CEO of Paribu, and CoinMENA’s leadership, including Dina Sam’an and Talal Tabbaa. This move aligns with Paribu’s strategy to extend its global footprint, focusing on regulated market entry to enhance security and user experience.
“This acquisition allows us to leverage CoinMENA’s regulatory framework and expertise to expand our reach in the MENA region.” – Yasin Oral, Founder & CEO, Paribu
Crypto Market Dynamics Shift in MENA
The acquisition is poised to alter crypto trading dynamics by increasing liquidity for major cryptocurrencies like BTC and ETH within the MENA region. It also underlines Paribu’s commitment to regulatory compliance, leveraging CoinMENA’s existing licenses to gain trust and credibility.
The deal is sizeable, enhancing Paribu’s competitive stance in a rapidly growing market. Official statements emphasize enhanced product offerings and regional growth. However, regulatory bodies like the CBB and VARA have yet to release detailed comments on the transaction, maintaining existing licensing status for CoinMENA.
Paribu Targets GCC with CoinMENA Licenses
The event mirrors past trends where large exchanges acquire regulated entities to bolster regional presence. CoinMENA’s strategic licenses in Bahrain and Dubai are central to Paribu’s expansion into the Middle East.
Financial experts predict the acquisition will strengthen Paribu’s capacity to service GCC users, focusing on liquidity and entry gateways for BTC, ETH, and stablecoins. Paribu will likely sustain its dominance in Türkiye while expanding its reach within the broader MENA market.
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