Turkey's Paribu acquires the Middle East's largest cryptocurrency exchange CoinMENA, with a transaction valuation of up to $240 million

Turkey's leading digital asset platform Paribu announced the acquisition of CoinMENA, the largest local cryptocurrency exchange in the Middle East and North Africa (MENA), with a transaction valuation of up to $240 million.

Through this acquisition, Paribu will expand from the Turkish domestic market to the MENA region, where cryptocurrency adoption is higher, and obtain two valid digital asset licenses issued by the Dubai Virtual Assets Regulatory Authority (VARA) and the Central Bank of Bahrain.