SBI Holdings Acquires 20% Stake In Ajaib To Expand Yen Stablecoin Across Southeast Asia

Japanese financial giant SBI Holdings is set to acquire a 20% stake in Indonesian online brokerage Ajaib Group for $270 million, marking a major step in its strategy to expand its yen-pegged stablecoin across the region.

Deal Aims To Build Cross-Border Settlement Network

The investment, expected to close by the end of August, supports SBI’s push to distribute its JPYSC stablecoin throughout Southeast Asia while developing blockchain-based infrastructure for cross-border settlements. Ajaib provides SBI a strong entry point into Indonesia’s retail investment market, which includes more than 20 million retail investors and is considered one of the largest in the ASEAN region.

Ajaib’s Broad Financial Services Offer Strategic Value

Ajaib operates brokerage services, foreign exchange margin trading, cryptocurrency trading, and asset management within Indonesia. SBI’s chairman said the move reflects the growing importance of global digital asset infrastructure as tokenization becomes more widespread across financial markets.

Part Of A Larger Regional Expansion Strategy

This deal follows SBI’s earlier acquisition of a Singapore-based crypto exchange and an investment in a digital securities trading platform, both aimed at building a wider network of regulated digital asset infrastructure across Southeast Asia.

Indonesia’s Startup Sector Sees Rare Boost

The Ajaib funding round stands out as Indonesia’s largest technology fundraising deal in years, arriving at a time when startup investment in the country has declined sharply compared to previous years. SBI’s broader crypto strategy also aligns with Japan’s national plans to develop blockchain-based settlement systems for stocks and government bonds in the coming years.