Japan’s SBI Holdings has acquired, through a subsidiary, a 20 percent stake in Ajaib, an Indonesian online multi-asset investment platform, making the Jakarta-based company an equity-method affiliate.

SBI Holdings did not disclose financial terms in its statement on Friday. The deal is Ajaib’s largest fundraising since 2022 . Founded in 2018, Ajaib previously raised $245 million in 2021, putting it value above $1 billion.

Ajaib began as an online securities brokerage and has grown into an investment and treasury platform spanning traditional and digital assets, SBI said.

The platform offers domestic and international equities, bonds, mutual funds, exchange-traded funds, crypto assets, stablecoins, commodities, and foreign exchange, along with payments and savings. It also provides over-the-counter stablecoin settlement for corporate and institutional clients.

SBI said the investment fit its plan to build digital-asset infrastructure across the Asia-Pacific, in line with its the SBI APAC Digital Economic Zone strategy focusing on Southeast Asia. The group runs crypto exchanges including SBI VC Trade in Japan and Coinhako in Singapore, and a crypto market-making business through B2C2 in Britain.

Chairman and Chief Executive Yoshitaka Kitao said Ajaib suited SBI’s aim of combining traditional financial products with digital assets across Southeast Asia. Ajaib co-founder and Chief Executive Anderson Sumarli said the partnership would help bring a new generation to modern financial services in Indonesia and beyond.

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