Turkey’s leading cryptocurrency exchange, Prebo, has acquired CoinMena, a prominent Middle Eastern crypto exchange operating in Bahrain and Dubai, in a deal valued at $240 million. This acquisition grants Prebo regulatory approval in Bahrain and Dubai, enabling access to the region’s rapidly growing crypto user base. CoinMena is among the few platforms in the Middle East operating within a legal and regulatory framework, boasting a substantial customer network. Prebo aims to expand its business scope and strengthen its presence in emerging markets where cryptocurrency adoption is increasing. As Turkey’s largest crypto exchange, known for its advanced technology and user-friendly services, Prebo’s acquisition could introduce Turkey’s crypto sector to the global stage and foster new investment opportunities in the region. With increasing competition and ongoing regulatory challenges worldwide, Prebo will need to align its strategies with regional laws and regulations. This deal is expected to enhance crypto acceptance in the Middle East and provide users with safer and more reliable trading options. Overall, the agreement marks a significant milestone for Turkey’s cryptocurrency industry and is anticipated to boost trading and investment opportunities across the region.
Source: coindesk
