Turkish crypto exchange Paribu has announced the acquisition of Bahrain-based CoinMENA in a transaction valued at over $240 million, marking the largest deal to date in Turkey’s FinTech sector.

More to Know:

– The acquisition sets a new record for Turkey’s FinTech industry.
– It is the first time a Turkish digital asset exchange has acquired a company outside of Turkey.
– The deal enables Paribu to expand into Middle East and North African (MENA) markets by leveraging         CoinMENA’s operating licenses in Bahrain and Dubai.
– CoinMENA has previously raised around $20 million from multiple investors.
– CoinMENA was established in 2020 by Talal Al Tabbaa and Dina Samaan.