SBI Takes 20% Stake in Indonesian Multi-Asset Platform Ajaib

SBI Holdings, a Japanese financial services conglomerate, has made a strategic investment in Indonesia-based Ajaib Group. The deal sees SBI acquire approximately 20% of Ajaib for $270 million, with the latter's cumulative funding now exceeding $500 million since 2019.

Ajaib operates a multi-asset platform that spans traditional financial products and digital assets, including stocks, bonds, funds, crypto assets, stablecoins, commodities, and foreign exchange. This breadth aligns with SBI's regional strategy to develop digital-asset infrastructure and an exchange network centered on Southeast Asia.

The partnership combines Ajaib's push beyond its existing base with SBI's plan for Southeast Asian digital-asset market infrastructure. With the investment, Ajaib plans to expand across Southeast Asia, although no specific timetable or markets were disclosed.