SBI Holdings Plans $270 Million Investment in Indonesian Brokerage Ajaib
SBI Holdings, a major Japanese financial services company, plans to acquire a $270 million stake in Ajaib Group, one of Indonesia’s leading online brokerages, before the end of this month.
The investment is part of SBI’s strategy to expand its yen-denominated stablecoin, JPYSC, across Southeast Asia while developing blockchain-based infrastructure for cross-border settlements.
SBI Targets Indonesia’s Retail Investment Market
The deal would give SBI a foothold in Indonesia’s consumer retail market, which is valued at an estimated $375 billion by IMARC Group. Indonesia is also one of ASEAN’s largest retail-investing markets, with more than 20 million retail investors, according to The Straits Times.
Ajaib provides online brokerage services, foreign-exchange margin trading, cryptocurrency services and asset management in Indonesia.
“In this era of tokenization, the importance of global infrastructure for digital assets is greater than ever,” stated Yoshitaka Kitao, chairman and president of SBI.
The planned investment follows SBI’s acquisition of Coinhako Group, a Singapore-based cryptocurrency exchange, for approximately $100 million in July. SBI also separately invested in DigiFT, a Singaporean digital securities trading platform, with the two companies establishing a joint venture.
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