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first_img SBI Holdings invests $270 million in Indonesian platform Ajaib to acquire a 20% stake

SBI Holdings, a Japanese financial services group, announced an investment of $270 million in the Indonesian multi-asset investment platform Ajaib Group, acquiring approximately 20% minority equity, making the Jakarta-based Ajaib an equity method associate of SBI. Ajaib confirmed this strategic investment in a LinkedIn post on Friday, stating that it is the largest tech financing in Indonesia since 2022, bringing its total funding since 2019 to over $500 million.Ajaib offers investment channels including domestic and international stocks, bonds, mutual funds, exchange-traded funds, crypto assets, stablecoins, commodities, and foreign exchange, while also covering payment and savings services, and providing over-the-counter stablecoin settlement services and liquidity support for Indonesian businesses and institutional investors. SBI stated that this collaboration will promote the adoption of digital assets in Asia and continue to expand its business footprint in the region.The SBI Group operates the Japanese crypto exchange SBI VC Trade, the Singapore exchange Coinhako, and the UK market maker B2C2. Other digital asset projects include the yen stablecoin JPYSC and the Layer 1 blockchain Strium developed for financial applications. SBI Holdings Chairman and President Yoshitaka Kitao stated that in the era of tokenization, the importance of global infrastructure for digital assets is increasingly prominent. SBI is establishing a network of digital asset exchanges in Southeast Asia through the "SBI APAC Digital Economic Zone" initiative, and Ajaib's model of combining traditional financial products with digital assets aligns with this strategy.

first_img SBI acquired a 20% stake in Indonesian brokerage Ajaib for $270 million, expanding its yen stablecoin

According to CoinDesk, Japanese financial giant SBI Holdings plans to acquire a 20% stake in Indonesian online brokerage Ajaib Group for $270 million by the end of this month to expand the circulation of its yen stablecoin JPYSC in Southeast Asia and utilize blockchain technology to build cross-border settlement infrastructure.Ajaib provides a foothold for SBI to enter the Indonesian market. Indonesia is one of the largest retail investment markets in ASEAN, with over 20 million retail investors and an estimated retail market size of $375 billion. Ajaib operates online brokerage, forex margin trading, cryptocurrency, and asset management businesses in Indonesia, and this $270 million deal is also the largest tech financing in Indonesia in years.SBI Chairman and President Yoshitaka Kitao stated that in the era of tokenization, the importance of global digital asset infrastructure is becoming increasingly prominent. This investment is part of SBI's strategy in Southeast Asia, having previously acquired Singapore cryptocurrency exchange Coinhako for about $100 million and invested in Singapore digital securities trading platform DigiFT. The Japanese government has also recently announced plans to build blockchain infrastructure for stocks and government bonds, with the expectation of launching 24/7 on-chain settlement in the early 2030s.

GAIB launches official buyback plan in response to external institutions selling tokens in advance

AI and Robotics Infrastructure Economic Layer Project GAIB Official StatementToday, GAIB released an official statement regarding the incident of external organizations prematurely selling tokens on the day of TGE and announced the launch of the GAIB official buyback plan. In the statement, GAIB emphasized that the approximately 5 wallets identified by the community, each selling about 1 million GAIB, are neither team members, advisors, nor any internal entities. All tokens held by the team and core contributors are currently locked, and the GAIB team has not sold any tokens.After an internal investigation, it was found that these wallets belong to multiple external market institutions from various regions. According to their cooperation agreements prior to TGE, the tokens they received were only to be used for community activity incentives after the launch and were explicitly prohibited from being sold prematurely. However, some institutions violated the agreement and unilaterally sold tokens on the day of TGE, constituting a serious breach of contract. GAIB has issued a formal notice to the relevant institutions, demanding a full buyback of all sold GAIB tokens, providing on-chain buyback proof, and bearing all consequences of the breach.However, the relevant institutions did not provide a clear response. GAIB will immediately initiate the official buyback plan, with the team directly starting to buy back the tokens that were sold in violation on the market, ensuring that the interests of the community are not affected by any third-party actions. GAIB stated in the announcement: "We will not let the community bear any consequences. The buyback plan is our commitment to responsibility and transparency." GAIB will announce the latest progress to the community as soon as further details of the buyback execution are obtained.
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