Lion Group plans to invest up to $12 million in Indonesian stablecoin developer PT Nusantara Bumi Sangkara
According to Crowdfundinsider, Nasdaq-listed Lion Group Holding Ltd. plans to invest up to $12 million in Indonesian fintech company PT Nusantara Bumi Sangkara through Meili Capital Management Ltd., in exchange for a 10% indirect economic interest via the issuance of common stock or equity-linked securities, with no cash payment involved.Nusantara Bumi Sangkara is developing the Indonesian Rupiah stablecoin NIDR, which is pegged 1:1 to the Indonesian Rupiah and backed by reserve assets, aimed at reducing cross-border payment costs and supporting blockchain financial services. The company has received regulatory approval or confirmation from the Indonesian Financial Services Authority and is expected to become one of the first compliant stablecoin issuers in the country.
