SBI Holdings acquires 20% stake in Indonesia's Ajaib for $270 million

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Japanese financial giant SBI Holdings is acquiring a 20% stake in Indonesian online brokerage Ajaib for $270 million. The deal is aimed at building a cross-border, blockchain-based settlement network across Southeast Asia. SBI intends to leverage the partnership to expand the reach of its yen-backed stablecoin in the region. The investment marks a significant step in SBI's broader strategy to integrate digital assets into international financial infrastructure.

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