Japan’s SBI Holdings has invested $270 million in Indonesian investment platform Ajaib, acquiring a 20% stake as it expands its digital asset business across Southeast Asia.
The transaction makes Ajaib an equity-method affiliate of SBI and values the Indonesian fintech at about $1.35 billion. The investment also marks one of the largest recent funding rounds for an Indonesian technology company.
Ajaib has grown from an online brokerage into a broader financial platform offering traditional investments alongside cryptocurrencies, stablecoins and foreign exchange products. The company says it now serves more than seven million users.
Expanding Digital Asset Infrastructure
The partnership gives SBI a major local platform for expanding digital asset services in Indonesia and the wider Southeast Asian market.
SBI plans to work with Ajaib to increase the distribution of JPYSC, its yen-denominated stablecoin. The stablecoin was developed through SBI’s financial infrastructure businesses and is designed to provide digital access to yen-denominated value.
Ajaib also offers stablecoin-related services to corporate and institutional customers. That could give SBI additional channels for introducing yen-based digital assets to businesses and investors in the region.
The deal aligns with SBI’s broader strategy of building a digital asset network across Asia-Pacific. The Japanese financial group has already expanded its presence through crypto exchanges, asset management operations and other digital finance businesses.
Ajaib Gains Capital for Regional Growth
For Ajaib, the investment provides significant fresh capital while bringing SBI’s financial infrastructure and digital asset expertise into the partnership.
The Indonesian platform has attracted international investors and expanded beyond its original focus on retail stock trading. Its product range now includes domestic and international equities, bonds, mutual funds, exchange-traded funds and digital assets.
Ajaib’s latest funding brings its total capital raised since its founding to more than $500 million. The company began serving Indonesian investors in 2019 and has focused heavily on younger retail customers.
The partnership reflects growing competition among financial groups to establish digital asset infrastructure in Southeast Asia. As stablecoins and tokenized financial products gain traction, local platforms such as Ajaib could become important distribution channels for international financial institutions.
