SBI Holdings Invests $270M in Indonesian Fintech Ajaib Group

Japanese financial services group SBI Holdings has made a significant investment in Indonesian multi-asset investment platform Ajaib Group, acquiring an approximate 20% stake for $270 million. This strategic investment marks Indonesia's largest tech funding round since 2022 and brings the firm's total funding raised since 2019 to more than $500 million.

Ajaib provides access to a range of financial products, including equities, bonds, mutual funds, exchange-traded funds, crypto assets, stablecoins, commodities, and foreign exchange. The firm also offers OTC stablecoin settlement services and liquidity to companies and institutional investors in Indonesia.

SBI Holdings Chairman and President Yoshitaka Kitao stated that the partnership will promote digital asset adoption in Asia as it builds out its presence across the region. SBI operates crypto exchanges SBI VC Trade in Japan and Coinhako in Singapore, as well as crypto market maker B2C2 in the UK.