Catenaa, Saturday, September 05, 2026-Japan’s SBI Holdings has invested $270 million in Indonesian investment platform Ajaib Group, acquiring about 20% as it expands its digital asset business across Asia.
Ajaib announced the investment Friday, describing it as Indonesia’s largest technology funding round since 2022.
The deal lifts Ajaib’s total funding since 2019 to more than $500 million, according to the company.
SBI confirmed that it acquired an approximately 20% minority stake but did not disclose the investment amount in its own announcement.
The transaction makes Jakarta-based Ajaib an equity-method affiliate of SBI Holdings.
The investment gives SBI exposure to one of Indonesia’s broadest consumer investment platforms while adding another piece to its growing network of digital asset businesses.
Ajaib offers domestic and international equities, bonds, mutual funds, exchange-traded funds, commodities, foreign exchange and crypto assets.
Its services also include stablecoins, payments and savings products.
For corporate and institutional users, Ajaib offers over-the-counter stablecoin settlement and liquidity services in Indonesia.
That mix of traditional investments and blockchain-based financial products fits SBI’s strategy of connecting conventional financial services with digital assets.
SBI Chairman and President Yoshitaka Kitao said the group sees global digital asset infrastructure becoming increasingly important as tokenization develops.
SBI is building what it calls the SBI APAC Digital Economic Zone, a regional network connecting exchanges and other financial infrastructure.
The group has been expanding across several parts of the digital asset industry rather than concentrating on cryptocurrency trading alone.
It operates SBI VC Trade, a regulated crypto exchange in Japan, and Coinhako in Singapore.
SBI also owns crypto market maker B2C2, which operates from the UK and serves institutional clients.
The group is developing JPYSC, a yen-linked stablecoin initiative, alongside Strium, a Layer 1 blockchain intended for financial applications.
Bringing Ajaib into the group gives SBI a direct position in Indonesia, one of Southeast Asia’s largest economies and most active digital markets.
Indonesia has a large population of younger investors who increasingly use mobile platforms for investing and financial services.
Digital assets have also developed alongside the country’s established securities market.
Ajaib’s structure gives SBI access to customers who can move between traditional investments and digital products through the same financial platform.
That differs from an investment in a pure cryptocurrency exchange.
The model allows SBI to participate in equities, bonds and funds while building exposure to stablecoins and crypto settlement.
It may also support future tokenized financial products if Indonesian rules expand to accommodate them.
SBI has increasingly presented tokenization as a bridge between traditional markets and blockchain infrastructure.
Tokenized securities can represent conventional assets through blockchain-based records while remaining subject to financial regulation.
Stablecoins can perform the cash-settlement role within those systems.
Companies combining regulated securities, digital assets and payment services could therefore become valuable distribution points as tokenization grows.
Ajaib’s institutional stablecoin services add another dimension.
Stablecoins are increasingly being used for cross-border settlement, treasury transfers and crypto trading because they can move outside normal banking hours.
Institutional liquidity services can help companies exchange between stablecoins and local currency without relying exclusively on retail trading platforms.
For SBI, such capabilities could complement its existing exchange and market-making operations.
B2C2 already operates in institutional digital asset markets, while SBI VC Trade and Coinhako give the group exchange infrastructure in Japan and Singapore.
Ajaib extends that regional footprint into Indonesia.
The investment also illustrates a broader change in how established Asian financial groups are approaching crypto.
Rather than making isolated investments in blockchain startups, some are building connected networks covering trading, custody, stablecoins, tokenization and settlement.
Mirae Asset recently outlined a separate large-scale digital asset strategy centered on its Digital X platform in South Korea.
SBI’s approach has developed through acquisitions, minority investments and internally developed infrastructure across several jurisdictions.
Southeast Asia is particularly attractive because of its growing digital economy, high mobile adoption and cross-border financial activity.
The region also has fragmented currencies and payment systems, creating potential demand for faster settlement technology.
Regulation remains an important constraint.
Each country maintains its own rules governing cryptocurrency exchanges, stablecoins, securities and payments.
A regional digital asset network therefore requires SBI to operate through locally regulated companies rather than relying on a single license.
Ajaib’s established position in Indonesia could help SBI operate within that structure.
The $270 million investment also gives Ajaib capital to expand its services as competition grows among Asian investment platforms.
Ajaib said the transaction was strategic rather than simply a financing round.
SBI, meanwhile, described Ajaib’s combination of conventional investments and digital assets as compatible with its regional plans.
The investment does not mean SBI controls Ajaib.
Its approximately 20% holding remains a minority position, although equity-method accounting means SBI will recognize its share of Ajaib’s results.
The deal nevertheless creates a close financial relationship between the companies.
For SBI, the investment brings together several themes it has pursued separately in recent years: crypto exchanges, stablecoins, institutional trading and blockchain-based financial infrastructure.
Ajaib adds a large consumer-facing investment platform in Southeast Asia to that structure.
If SBI succeeds in linking these businesses, its Asian strategy could increasingly resemble a regional financial network where conventional and digital assets operate through connected platforms.
Background: SBI Holdings is a Japanese financial group with businesses spanning securities, banking, insurance, asset management and digital assets. It has spent years building cryptocurrency infrastructure through investments, acquisitions and internally developed services. SBI VC Trade operates in Japan, while Coinhako gives the group an exchange presence in Singapore. Institutional market maker B2C2 forms another part of the network. SBI is also pursuing yen-linked stablecoin infrastructure and developing Strium for blockchain-based financial applications. Ajaib was founded in Indonesia in 2019 and has developed into a multi-asset investment platform covering securities and digital assets. The new investment comes as Asian financial groups increasingly connect traditional investment products with stablecoins, tokenized assets and blockchain settlement systems across regulated local markets.
