SBI Holdings is planning to spend about $270 million to acquire a 20% stake in Indonesian online brokerage Ajaib Group, according to a Techub News brief citing Nikkei. The deal is expected to close this month and is aimed at supporting the Japanese financial group’s cryptocurrency expansion in Southeast Asia. The report also said SBI has recently invested in several companies in Singapore to advance its cross-border settlement and securities trading businesses. Once the stake purchase is completed, Ajaib will become an equity-method affiliate of SBI. The move adds to SBI’s digital finance push in Southeast Asia, where the firm is building out operations tied to crypto, settlement infrastructure and securities services.
SBI Holdings plans to spend about $270 million to acquire a 20% stake in Indonesian online brokerage Ajaib Group, according to Techub News, which cited Nikkei. The transaction is expected to be completed this month and is intended to support the Japanese financial group’s cryptocurrency expansion in Southeast Asia.
SBI has also recently invested in several companies in Singapore to advance its cross-border settlement and securities trading businesses.
After the stake purchase is completed, Ajaib will become an equity-method affiliate of SBI. The deal adds to the group’s presence in Southeast Asia’s digital finance market.
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