Approval of the Competition Authority for Paribu's Acquisition of CoinMENA

Approval from the Competition Authority for Paribu

Turkish-based cryptocurrency exchange Paribu has taken a significant step in the process of acquiring CoinMENA. The Competition Authority has approved Paribu's acquisition of the majority shares in CNMENA Holding LTD.

Details of the Agreement

In a statement on the official website of the institution, it was stated, "The operation of establishing sole control over CNMENA Holding LTD through the acquisition of the majority shares of CNMENA Holding LTD by Paribu Limited has been authorized." This agreement is considered a significant turning point in Turkish fintech history.

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 direct access to the markets in the MENA (Middle East and North Africa) region, where the adoption of digital assets is the highest.

A Major Growth Strategy

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