SBI Buys 20% Stake in Indonesia's Ajaib for $270 Million to Expand Yen Stablecoin in Southeast Asia
The Series C funding could value the Jakarta-based fintech unicorn at $1.35 billion and lifts its total fundraising above $500 million.
- On Friday, Tokyo-listed SBI Holdings announced a $270 million investment to acquire a 20% stake in Ajaib, an Indonesian online securities and cryptocurrency trading platform.
- Ajaib gives SBI a foothold in Indonesia's consumer-retail market worth an estimated $375 billion, which hosts more than 20 million retail investors and where the platform has grown to more than seven million users.
- The deal supports SBI's regional network for regulated crypto and digital securities infrastructure, aiming to integrate JPYSC, its yen-denominated stablecoin, across Southeast Asia using blockchain technology for cross-border settlement.
- This Series C funding round brings Ajaib's total capital raised to more than $500 million, marking Indonesia's largest tech fundraising since 2022 and potentially valuing the fintech unicorn at $1.35 billion.
- The government recently announced plans to build blockchain infrastructure for stocks and government bonds with 24/7 onchain settlement, despite the country's startup sector raising just $340 million last year according to a Bloomberg report.
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Cryptocurrency News | Cryptocurrency Prices | Market CapSBI Holdings Takes 20% Stake in Ajaib With $270M Indonesia Investment
SBI Holdings has invested $270 million in Ajaib Group, a company based in Indonesia, which accounts for approximately 20% of the group. The agreement reinforces SBI’s presence in the fast-growing digital asset space in Asia. It also gives Ajaib greater financial backing as it broadens access to investments and digital assets. Expanding Digital Asset Reach […] Read The Full Article SBI Holdings Takes 20% Stake in Ajaib With $270M Indonesia Invest…
SBI Holdings Takes Strategic Stake in Indonesia’s Ajaib Group | LeapRate | Online Trading Industry News, Broker Intelligence & Fintech Analysis
SBI Holdings, Inc. has announced a strategic investment in Ajaib Group, Indonesia’s leading online multi-asset investment platform, through one of its subsidiaries. The Tokyo-based financial services group acquired a minority stake of approximately 20% in Ajaib Group, making the Jakarta-based company an equity-method affiliate of SBI Holdings. Ajaib Group began as an online securities brokerage and has since expanded into a broader investment an…
SBI Holdings purchased 20% of Ajaib for $270 million, expanding the use of stable yencoin in South-East Asia for payments
SBI Holdings to Invest $270M in Indonesia’s Ajaib to Expand Stablecoin Network
Japanese financial giant SBI Holdings plans to invest $270 million in Indonesian online brokerage Ajaib Group as it accelerates its blockchain and stablecoin expansion across Southeast Asia. The transaction, expected to be completed before the end of August, is part of SBIs strategy to broaden the regional reach of JPYSC, its yen-denominated stablecoin, while developing blockchain-based infrastructure for cross-border settlements and digital ass…
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