SBI Takes 20% Stake in Ajaib to Grow Yen Stablecoin
SBI buys 20% stake in Indonesia’s Ajaib for $270 million to expand yen stablecoin in Southeast Asia
Japan’s financial group SBI has agreed to buy a 20% stake in Indonesia’s investment platform Ajaib for $270 million, in a move that links a major traditional finance player with one of Southeast Asia’s fast-growing digital brokers.
The deal is positioned around SBI’s regional expansion plans for a yen-denominated stablecoin. By taking a significant minority stake in Ajaib, SBI is aligning itself with a local consumer-facing platform that could support distribution and integration of yen-based digital settlement tools in the Southeast Asian market.
The transaction matters because it highlights how stablecoin strategies are increasingly being pursued through equity partnerships rather than standalone crypto launches. For firms like SBI, working with established local platforms can provide market access and user reach while tying stablecoin initiatives to existing financial products and customer workflows.
It also underscores a broader trend of cross-border collaboration in Asia’s digital asset and fintech sectors, where large financial institutions are looking for footholds in high-growth markets, and regional fintech platforms seek strategic capital and infrastructure support.
