SBI Acquires 20% of Ajaib for $270M to Expand Yen Stablecoin in Southeast Asia
CoinDesk reports SBI's $270 million acquisition of 20% stake in Indonesian fintech Ajaib for yen stablecoin expansion in Southeast Asia.
SBI acquired a 20% stake in Indonesian fintech Ajaib for $270 million, according to CoinDesk.
Purpose
The stated purpose is yen stablecoin expansion in Southeast Asia.
Unknowns
No confirmation of stablecoin issuance timeline or regulatory approvals has been disclosed.
No user or volume targets for the stablecoin rollout have been released.