Japan's SBI Holdings has invested $270 million in Ajaib, acquiring a 20% stake in the Indonesian investment platform as it broadens its digital asset business across Southeast Asia.

The transaction makes Ajaib an equity-method affiliate of SBI — a designation applied under Japanese accounting practice when a stake of roughly 20% or more carries significant influence — and values the Indonesian fintech at approximately $1.35 billion. It also ranks among the largest recent funding rounds for an Indonesian technology company.

Ajaib has evolved from an online brokerage into a broader financial platform offering traditional investments alongside cryptocurrencies, stablecoins and foreign exchange products. The company says it now serves more than seven million users. It operates in Indonesia, Southeast Asia's largest economy, where a young, smartphone-first population has driven rapid adoption of digital financial services and the country counts millions of registered digital asset investors.

Expanding Digital Asset Infrastructure

The partnership gives SBI a major local platform for expanding digital asset services in Indonesia and the wider Southeast Asian market.

SBI plans to work with Ajaib to increase the distribution of JPYSC, its yen-denominated stablecoin. The stablecoin was developed through SBI's financial infrastructure businesses and is designed to provide digital access to yen-denominated value. Japan put a dedicated regulatory framework for stablecoins in place under its Payment Services Act, effective in 2023, allowing licensed banks, trust companies and money transfer businesses to issue such tokens — a legal foundation that underpins SBI's effort to extend yen-based digital assets beyond Japan.

Ajaib also offers stablecoin-related services to corporate and institutional customers, which could provide SBI with additional channels for introducing yen-based digital assets to businesses and investors in the region.

The deal aligns with SBI's broader strategy of building a digital asset network across Asia-Pacific. The Japanese financial group has already expanded its presence through crypto exchanges, asset management operations and other digital finance businesses.

Capital for Ajaib's Regional Growth

For Ajaib, the investment provides significant fresh capital while bringing SBI's financial infrastructure and digital asset expertise into the partnership.

The Indonesian platform has attracted international investors — its earlier backers include SoftBank's Vision Fund 2 — and expanded beyond its original focus on retail stock trading. Its product range now includes domestic and international equities, bonds, mutual funds, exchange-traded funds and digital assets.

With its latest funding, Ajaib's total capital raised since its founding now exceeds $500 million. The company began serving Indonesian investors in 2019 and has focused heavily on younger retail customers. Early indicators to watch from the partnership include how quickly JPYSC distribution is integrated into Ajaib's corporate and institutional services, and whether other Japanese and international financial groups pursue comparable tie-ups as Southeast Asian digital asset regulation matures — Indonesia moved oversight of digital assets to its financial services regulator, the Financial Services Authority (OJK), in 2025.

The partnership reflects growing competition among financial groups to establish digital asset infrastructure in Southeast Asia. As stablecoins and tokenized financial products gain traction, local platforms such as Ajaib could become important distribution channels for international financial institutions.