One of Türkiye’s biggest digital asset platforms bought the Gulf’s top homegrown crypto exchange. Paribu acquired CoinMENA, the Bahrain-based and Dubai-licensed exchange, in a deal valued at $240 million. CoinMENA, founded in 2020, has raised almost $20 million from investors including BECO, Arab Bank Switzerland, Circle, and Bunat Ventures. It has more than 1.5 million users in 45 countries.
The Middle East accounts for roughly 7% of global virtual asset transaction value. Although Bitcoin has slumped in recent months, the industry remains bullish: Driven by a crypto-friendly Trump administration, the stablecoin market has grown to nearly $300 billion so far in 2025, up 42% year-to-date, according to JPMorgan.
— Mohammed Sergie