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§ Private Profile · Manama, Bahrain
Regulated cryptocurrency exchange platform to buy, sell, and store digital assets using local currencies for MENA region investors.
Founded in 2020 by Talal Tabbaa, Dina Sam'an, and Yazan Barghuthi, CoinMENA is a Manama, Bahrain-based financial technology company operating a regulated cryptocurrency exchange platform. The platform allows retail and institutional investors across the Middle East and North Africa to securely buy, sell, and store digital assets using local fiat currencies. Generating revenue through trading fees and business-to-business services, the profitable enterprise has scaled its mobile application to support over 1,500,000 users and process more than $1 billion in total trading volume. Prior to its recent acquisition by the Turkish cryptocurrency exchange Paribu, the firm secured $9,500,000 in seed funding from institutional backers including BECO Capital, Kenetic, Arab Bank Switzerland, and Alameda Research. Since achieving profitability in 2023, the company has experienced rapid expansion, reporting up to four times annual growth in revenue, profits, and users.
CoinMENA has raised $10.0M across 1 funding round.
CoinMENA has raised $10.0M in total across 1 funding round.
CoinMENA has raised $10.0M across 1 funding round. Most recently, it raised $10.0M Seed in November 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Nov 1, 2021 | $10M Seed | — | Alameda Research, Arab Bank Switzerland, Dany Farha, Bunat Ventures, Girnas Capital, Kinetic, RUA Ventures | Announced |
CoinMENA is a regulated cryptocurrency exchange platform that enables users in the MENA region to buy, sell, store, send, and receive digital assets like Bitcoin, Ethereum, and over 50 altcoins, with seamless local fiat deposits and withdrawals in currencies such as AED, BHD, KWD, OMR, QAR, and SAR.[1][2][3][5] It serves both retail and institutional clients, solving the challenges of on-ramps and off-ramps between traditional banking and crypto by offering compliant, user-friendly access amid regional regulatory hurdles.[3][5][6] With over 1.5 million users across 45 countries, competitive fees, high liquidity, and an educational focus, CoinMENA has demonstrated strong growth, culminating in its acquisition by Paribu in December 2025 for up to USD 240 million after raising nearly USD 20 million from investors like BECO, Arab Bank Switzerland, Circle, and Bunat Ventures.[2]
CoinMENA was founded in 2020 by Talal Tabbaa (CEO) and Dina Sam'an, who identified gaps in traditional banking's slow adoption of crypto technology, particularly for retail users struggling with fiat-to-crypto conversions in heavily regulated MENA markets.[2][6] Headquartered in Manama, Bahrain, the company quickly secured licenses from the Central Bank of Bahrain (CBB) as a category-3 crypto asset service provider and from Dubai's Virtual Assets Regulatory Authority (VARA) as a broker-dealer VASP.[2][3] Early traction came from its focus on financial inclusion for underbanked populations, enabling local currency support and secure operations via partnerships like BitGo for custody, which powered compliant scaling across the region.[3][6]
CoinMENA rides the MENA crypto adoption wave, fueled by regulatory clarity in Bahrain and UAE, young demographics, and rising demand for digital assets amid economic diversification away from oil.[2][3][6] Its timing aligns with global crypto maturation post-2022 downturns, where compliant local platforms outperform unregulated alternatives, capturing market share from competitors like Rain.[1] By enabling fiat-crypto bridges, it influences the ecosystem by boosting financial inclusion for underbanked groups, powering DeFi access, and attracting institutional inflows—exemplified by its USD 240M acquisition, signaling MENA's fintech maturity and cross-border consolidation.[2][6]
Post-acquisition by Paribu, CoinMENA will likely expand as a regulated MENA hub, integrating Türkiye's liquidity with regional fiat rails to challenge global giants amid rising tokenized assets and CBDC pilots.[2] Trends like VARA/CBB expansions, AI-driven trading, and Web3 gaming will shape its path, potentially growing user base beyond 1.5M via enhanced DeFi gateways.[3][6] Its influence may evolve into a full-stack digital asset gateway, solidifying MENA's role in global crypto while upholding compliance as the ultimate differentiator—empowering the digital economy one local deposit at a time.[2][3]
CoinMENA has raised $10.0M in total across 1 funding round.
CoinMENA's investors include Alameda Research, Arab Bank Switzerland, Dany Farha, Bunat Ventures, Girnas Capital, Kinetic, Rua Ventures.