SBI Holdings to Invest $270M in Indonesia’s Ajaib to Expand Stablecoin Network

Japanese financial giant SBI Holdings plans to invest $270 million in Indonesian brokerage Ajaib Group to accelerate blockchain and stablecoin expansion across Southeast Asia. The transaction, expected by end of August, aims to broaden reach of SBI's yen-denominated stablecoin JPYSC and develop infrastructure for cross-border settlements, gaining access to Indonesia's large market.