Paribu's Acquisition of CoinMENA Approved by the Competition Authority

Approval from the Competition Authority for Paribu

Turkey-based cryptocurrency exchange Paribu has taken an important step in the process of acquiring CoinMENA. The Competition Authority has approved Paribu's acquisition of a majority stake in CNMENA Holding LTD.

Details of the Agreement

In a statement on the institution's official website, it was expressed, "Permission has been granted for the establishment of sole control over CNMENA Holding LTD through the acquisition of the majority shares of CNMENA Holding LTD by Paribu Limited." This agreement marks a significant milestone in the history of Turkish fintech.

Value of CoinMENA and Market Potential

At the beginning of December, Paribu announced that it would acquire CoinMENA in a deal valued at 240 million dollars. This acquisition will provide Paribu with direct access to markets in the MENA (Middle East and North Africa) region, where digital asset adoption is at its highest.

A Major Growth Strategy

Paribu’s acquisition of CoinMENA is not just an investment; it is also part of a strategy to become a significant player in the MENA market. Through this, Paribu will have the opportunity to reach more users on the international stage.