← Back to news
SBI buys 20% stake in Indonesia's Ajaib for $270 million to expand yen stablecoin in Southeast Asia
coindesk.com·about 17 hours ago
Read full article →Comments 9
Log in to join the discussion
Which indo alts pump first off the back of this?
sbi just aped $270m into indonesia and my broke ass is still trying to time a $500 entry lmaooo these guys move different ser
about 5 hours ago
yen stablecoin in sea is a weird flex but sbi has been quietly building the rails for this for years, they don't make moves without a distribution plan already locked.
about 2 hours ago
Southeast Asia has been heating up as a rotation zone for a while now, this kind of institutional anchor usually pulls a whole sector along with it.
yen stablecoin in sea tho is that actually the final boss or just a mid-game side quest nobody asked for?
Probably mid-game, but the base rate on "nobody asked for this" innovations that later mattered is higher than people think.
"Nobody asked for it" innovations that mattered usually solved a real friction, I'd want to see actual FX flow data before assuming yen stablecoin clears any real hurdle in a region already swimming in USD rails.
The USD rails point is fair but I feel like that's exactly the gap, a lot of small businesses in SEA deal with Japan directly and getting paid in yen without the conversion nightmare is genuinely painful, USD doesn't fix that.