SBI Holdings has completed a strategic investment of $270 million to acquire an approximate 20% stake in Ajaib Group, one of Indonesia’s leading online multi-asset investment platforms. The transaction makes Ajaib an equity-method affiliate of the Japanese firm and forms a core part of SBI’s broader effort to expand its yen-denominated stablecoin and blockchain-based settlement capabilities in the region.

The deal positions SBI to deepen its presence in Indonesia, a market with a consumer-retail sector estimated at roughly $375 billion and more than 20 million retail investors. Ajaib, headquartered in Jakarta, began as an online securities brokerage and has evolved into a comprehensive platform offering domestic and international equities, bonds, mutual funds, exchange-traded funds, crypto assets, stablecoins, commodities, foreign-exchange products, payments and savings services. It also provides over-the-counter stablecoin settlement and liquidity solutions for corporate and institutional clients.

Strategic Fit for Regional Digital Asset Ambitions

SBI described the partnership as a means to promote digital asset adoption across Asia. The group already operates crypto asset exchanges including SBI VC Trade in Japan and Coinhako in Singapore, along with market-making activities through B2C2 in the United Kingdom. Recent moves include the acquisition of Coinhako Group for approximately $100 million and a joint venture with Singapore-based DigiFT focused on digital securities.

Central to the strategy is JPYSC, SBI’s yen-pegged stablecoin issued through a trust structure involving SBI Shinsei Trust Bank. The firm aims to broaden JPYSC distribution in Southeast Asia while developing infrastructure that can support cross-border stablecoin payments and trading of tokenized assets. Ajaib’s existing platform, which already handles stablecoins and serves millions of retail users, offers a ready distribution channel and local expertise in Indonesia.

Ajaib has raised more than $500 million in total funding since 2019. The $270 million round ranks as one of the largest technology financings in Indonesia in recent years, arriving at a time when the country’s startup sector has seen markedly lower activity compared with earlier peaks.

Broader Context in Japan and Southeast Asia

The investment aligns with Japan’s increasing focus on blockchain applications in finance. Japanese authorities have outlined plans for blockchain-based settlement systems covering stocks and government bonds, with potential 24/7 on-chain operations targeted for the early 2030s. SBI has also advanced related initiatives such as an on-chain Japanese equity fund in partnership with DigiFT and development of Strium, a layer-1 blockchain designed for financial use cases.

For Ajaib, the capital and strategic relationship provide resources to scale its multi-asset offerings and strengthen its role in tokenized finance within Indonesia and the wider region. Co-founder and CEO Anderson Sumarli has noted the platform’s readiness to help build infrastructure supporting digital assets, tokenized real-world assets and related services for the next wave of financial inclusion in Southeast Asia.

The transaction underscores SBI’s methodical approach to assembling a network of regulated digital asset businesses across key Asian markets, linking traditional brokerage capabilities with stablecoin and blockchain settlement rails.