CoinMENA
“Can a dual-licensed (Bahrain CBB + Dubai VARA) crypto exchange become the dominant regulated on-ramp for retail and institutional digital asset trading across the MENA region and beyond?”
Founded2019
HQManama, Bahrain
Total raised$12.5M
Latest roundM&A (acquired by Paribu, $240M deal)
IndustryFintech / Crypto
The story
Founded in 2019 in Bahrain, CoinMENA positioned itself as the leading regulated crypto exchange for the MENA region, obtaining CBB Category-3 licensing early on. The company expanded into the UAE under a VARA VASP license, establishing two distinct regulated entities (CoinMENA B.S.C.(C) in Bahrain and CoinMENA FZE in the UAE). With $12.5M raised over two funding rounds and over 1.5 million registered users, the company was acquired by Turkish exchange Paribu in a $240M deal, signaling consolidation in the MENA/Turkey crypto corridor.
Last 12 months
Product timeline
2019
CoinMENA founded in Bahrain as a regulated cryptocurrency trading platform for the MENA region.· pivot
2021
Obtained Central Bank of Bahrain (CBB) license as a Crypto Asset Services Company – Category 3.· banking
2023
Expanded to UAE with CoinMENA FZE, licensed by the Virtual Asset Regulatory Authority (VARA) as a VASP with broker-dealer services.· banking
2025
Launched Apple Pay and Google Pay as deposit methods for crypto purchases.· banking
2025
Strategic alliance announced with Turkish exchange Paribu, leading to acquisition.· acquisition
2026
Acquired by Paribu in a deal valued at $240M; CoinMENA continues operating as a subsidiary.· acquisition
Regulated entities
2
regulatory licences held by CoinMENA
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
0 layers disclosed in CoinMENA’s embedded-finance stack
Accounting gap: minor