๐ฅ Latest News: The Turkish platform Paribu buys CoinMENA for $240 million to secure key licenses in Dubai and Bahrain for regional expansion!
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๐ข What's new?
โ Paribu, the leading platform in Turkey, announced the purchase of CoinMENA, the largest local crypto exchange in the Middle East and North Africa, in a deal valued at up to $240 million
โ CoinMENA serves over 1.5 million users in 45 countries, providing access to 50 digital currencies
โ Through the deal, Paribu obtains a VARA license in Dubai as a virtual asset service provider and a CBB license in Bahrain as a crypto asset service provider
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๐ก Analysis:
โ CoinMENA was established in 2020, is Sharia-compliant, and raised $20 million from investors such as Circle and Arab Bank Switzerland
โ Paribu, launched in 2017, is building a multi-market strategy, introducing Paribu Custody in 2024 and a brokerage license in October 2025
โ This is the largest Turkish fintech deal and the first cross-border acquisition of a Turkish crypto exchange
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