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Lion Group plans to invest up to $120 million in Indonesian stablecoin developer PT Nusantara Bumi Sangkara.

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ME News, June 29 (UTC+8), 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 issuance of common shares or equity-linked securities. The transaction does not involve cash payments. Nusantara Bumi Sangkara is developing the Indonesian rupiah stablecoin NIDR, which is pegged 1:1 to the Indonesian rupiah and backed by reserve assets, aiming to reduce cross-border payment costs and support blockchain-based financial services. The company has obtained regulatory approval or confirmation from Indonesia's Financial Services Authority and is expected to become one of the country's first compliant stablecoin issuers. (Source: PANews)
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