ChainCatcher report: Japanese financial giant SBI Holdings plans to acquire a 20% stake in Indonesian online brokerage Ajaib Group for $270 million before the end of this month, to expand the circulation of its yen-stablecoin JPYSC in Southeast Asia and leverage blockchain technology to build cross-border settlement infrastructure. Ajaib provides SBI with a foothold in the Indonesian market, one of ASEAN’s largest retail investment markets, home to over 20 million retail investors and an estimated consumer retail market size of $375 billion. Ajaib operates online brokerage, forex margin trading, cryptocurrency, and asset management services in Indonesia. This $270 million transaction is among the largest tech financings in Indonesia in recent years. SBI’s Chairman and President, Yoshitaka Kitao, stated that in the era of tokenization, the importance of global digital asset infrastructure is growing increasingly prominent. This investment is part of SBI’s broader strategy in Southeast Asia, following its previous acquisition of Singapore-based cryptocurrency exchange Coinhako for approximately $100 million and its investment in Singapore’s digital securities trading platform DigiFT. The Japanese government has also recently announced plans to build a blockchain infrastructure for stocks and government bonds, with on-chain 24/7 settlement potentially launching in the early 2030s.
SBI Acquires 20% Stake in Indonesian Broker Ajaib for $270M to Expand JPYSC Stablecoin
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Summary
SBI Holdings is set to invest $270 million for a 20% stake in Indonesia’s Ajaib Group by month-end, according to blockchain news. The deal supports SBI’s efforts to expand its JPYSC stablecoin in Southeast Asia and develop cross-border blockchain settlement infrastructure. Ajaib provides SBI with access to Indonesia’s 20 million retail investors and a $375 billion retail market. The investment ranks among Indonesia’s largest tech financings. SBI has also acquired Coinhako and invested in DigiFT. Japan is developing blockchain upgrade plans for 24/7 on-chain settlement of stocks and bonds, targeting the early 2030s.
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