Paribu buys into CoinMENA: Istanbul-based digital asset platform Paribu bought an unspecified majority stake in Dubai-based crypto exchange CoinMENA for an undisclosed sum, according to a joint statement. The transaction, which Paribu says is Turkey’s largest fintech acquisition to date, values CoinMENA at USD 240 mn. It also marks the country’s first move into a cross-border crypto market.

The pitch: Paribu will use CoinMENA’s Bahrain and Dubai licenses as its launchpad into the Gulf, integrating the exchange into a broader custody-brokerage-trading stack and doubling down on regulated crypto infrastructure across the region.

About CoinMENA: CoinMENA has a footprint across two of the region’s most active crypto markets, operating under Dubai’s Virtual Assets Regulatory Authority and the Central Bank of Bahrain. The exchange raised nearly USD 20 mn to date from investors including Beco, Arab Bank Switzerland, Circle, and Bunat Ventures, and now serves 1.5 mn users across 45 countries, offering access to more than 50 tokens and multiple local currencies.

The story also got ink from Reuters.

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