What’s the deal? Japan’s SBI Holdings will pay $270 million for a 20% stake in Ajaib Group, a major Indonesian online brokerage, as early as this month. The deal makes Ajaib an equity-method affiliate of the Japanese financial group.
What’s the endgame? The investment is part of SBI’s push into cryptocurrency. Ajaib gives it a foothold in Indonesia’s fast-growing digital brokerage market.
The signal: SBI’s move underscores how Japanese financial firms are chasing growth in Southeast Asia’s retail investing and crypto markets, betting on younger, digital-first customers beyond their home turf.
Read more: Nikkei Asia
Image credit: Ya, saya inBaliTimur
