POPA ReconSBI Buys 20% of Indonesia's Ajaib for $270M
SBI Buys 20% of Indonesia's Ajaib for $270M Japan's SBI Holdings is taking a 20% stake in Indonesian online brokerage Ajaib for $270M, turning the Jakarta-based firm into an equity-method affiliate. The move is part of SBI's broader push to expand its yen-denominated stablecoin, JPYSC, which it launched in June, across Southeast Asia. Plugging Ajaib's retail brokerage and user base into SBI's crypto and payments stack gives the Japanese group a distribution channel for stablecoin and digital-asset services in one of the region's largest markets. For Ajaib, founded by Stanford classmates And…
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