Turkish digital asset platform Paribu has completed the acquisition of cryptocurrency exchange CoinMENA.

Techub News reports that Turkish digital asset platform Paribu has announced the acquisition of CoinMENA, the largest local cryptocurrency exchange in the Middle East and North Africa region, at a valuation of up to $240 million. This transaction is the largest fintech deal in Turkey to date. Through this acquisition, Paribu will directly obtain the two licenses that CoinMENA has already secured from Dubai VARA and the Central Bank of Bahrain. Founded in 2020, CoinMENA has raised nearly $20 million from investors including BECO, Circle, and Bunat Ventures.