From CoinMENA to Paribu: Talal Tabbaa on Crypto, Resilience, and What Comes Next?
A few months ago, I interviewed Talal Tabbaa following the successful sale of CoinMENA to Turkish crypto exchange and conglomerate Paribu. His comments and views reflect what we are witnessing today, not only globally but also across the MENA region.
The interview centred on three themes: the CoinMENA-Paribu deal, his consistently positive view on Bitcoin, and his newfound passion for AI. Across all three, there was a great deal to learn.
But first, a quick recap on CoinMENA. Founded in 2020, the company set out to become one of the first licensed crypto exchanges in MENA. It became the second licensed exchange in Bahrain and the second in the UAE, following Rain and BitOasis respectively.
Moreover, when CoinMENA first launched its major public funding phase (a seed round in November 2021), it raised $9.5 million from regional and international investors. Over its entire private lifespan prior to its acquisition, it went on to raise nearly $20 million in total, with no Series A round needed. Investors included BECO, Arab Bank Switzerland, Circle, and Bunat Ventures.
In 2025, with two licenses secured and 1.5 million users across 45 countries, CoinMENA was acquired by Paribu for $240 million, making it one of the region’s largest fintech acquisitions.
Speaking to Talal, he notes, “Building CoinMENA was challenging, especially during the FTX debacle which put the crypto ecosystem into disarray and which we as well were affected by. We almost went bankrupt in 2022, and if it wasn’t for the trust and the belief of BECO our investors we might not be here today.”
That is why Talal believes that in his next startup, he will deal with honest, transparent and resilient teams and investors. He states, “You cannot do it except with people you can rely on, when we needed it, BECO wired us funds that supported the operations and got us through tough times. I would recommend startups to work with them.”
He adds, “It is so easy for investors to support you when things are going well, but when it is not you know who your biggest supporter is. They took a bet on me and CoinMENA.”
As important as CoinMENA’s successful sale was for its investors, founders, and employees, Paribu, the Turkish-founded digital asset and crypto exchange, is also an inspiring success story in its own right.
Yasin Oral founded Paribu in 2017, and today it serves more than 7 million customers. The platform allows users to buy, sell, and trade a wide variety of cryptocurrencies, and has expanded into a multi-product investment app offering access to decentralized finance (DeFi), staking yields, prediction markets, and traditional equities. It also operates its own proprietary blockchain network, Paribu Net.
But Oral is not just a crypto entrepreneur. He also founded other businesses, including Matbuu.com, Turkey’s first and largest online commercial printing service. He later launched Paribu and Paribu Ventures, which invests in early-stage blockchain, Web3, gaming, and financial technology startups, as well as Paribu Custody and Paribu Self, its non-custodial consumer wallet.
When asked why he sold to Paribu, Talal’s answer was quick and clear: they are inspiring, their founder is inspiring, and, most importantly, both sides wanted the deal. Talal wanted a great sale, and Paribu wanted a great acquisition.
That does not mean Talal did not do his homework. He reviewed offers from 73 entities, but Paribu proved best suited to CoinMENA’s mission and to Talal’s responsibility toward shareholders.
When Talal first started CoinMENA, he had imagined Coinbase might one day acquire the company. That vision faded when Coinbase invested in Rain. In hindsight, the Paribu acquisition may be an even stronger accomplishment.
Talal states clearly, “To close a deal the company needs to be willing to sell, and the buyer needs to be keen on buying, alongside the financial due diligence and legal due diligence that takes place, the intention must be there as it moves things along. At the back of my mind was always my responsibility towards shareholders and prioritizing shareholder value.
The deal couldn’t have come at a better time, as the crypto exchange and brokerage market matures, and competition increases. Already there are more than 100 licensed VASPs across the UAE alone. Talal adds, “Competition is high, margins are lower, we started as the second licensed crypto brokerage licensed and when we sold, we were one of 40 VASP licenses.”
The deal is part of Paribu’s strategy to grow not only vertically but also horizontally. Paribu already competes with Binance in Turkey and will now do so in the UAE. Talal believes Paribu acquired a profitable crypto exchange with deep regional understanding, rather than having to go through a long licensing process that may or may not have been successful.
The relationship with Paribu is not just about expanding crypto trading services in the UAE, Bahrain, and soon Jordan. According to Talal, it will go well beyond crypto. Paribu will also bring in its crypto custody business, with additional products and services on the way. Recently Paribu announced that it has taken its network coverage past 80, adding seven blockchain networks over recent months. The institutional digital asset custody service, launched in late 2024 by Türkiye-based fintech company Paribu, now supports more than 1,000 tokens across use cases ranging from decentralized finance to stablecoins and consumer-facing applications.
As for his view on the future of the industry, Talal remains a strong believer in Bitcoin, even more so in the age of AI, which has become his new focus.
He explains, “First when it comes to Bitcoin, all I can say is I have been in Bitcoin for long enough, and for those who want to invest in it, invest as much as you are ready to lose, don’t let a drop destroy your life, invest per your risk appetite. In short invest not gamble.”
He adds, “Stablecoins will dominate and we will see META again get into the space with their Libra project, and couple that with Instagram and WhatsApp, by end of year we will stablecoins on those platforms.”
As for AI, Talal is deeply interested in the space and convinced that it represents the future. His next project focuses on building financial services for AI agents, including how they will make payments and manage wallets, accounts, and related financial infrastructure.
On tokenization, he believes demand is not there yet, but expects crypto cards to perform very well.
In conclusion, his advice to entrepreneurs is simple: nothing is hard; challenging, yes, but not hard. Hard is working in a mine. A startup is challenging, but not hard, and founders need to turn those challenges into opportunities.
After all these years, Talal says he has learned one thing: no complaining. Don’t complain, solve it. He ends by noting that success can take many forms. It could be an IPO, a unicorn, or a sale that puts money into shareholders’ pockets.
I can’t wait to see what Talal gets into next. It will be great!
