According to Crowdfunding Insider, 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 10% indirect economic equity through the issuance of common stock or equity linked securities, with no cash payments involved in the transaction. PT Nusantara Bumi Sangkara is developing the Indonesian Rupiah stablecoin NIDR, which is anchored 1:1 in the Indonesian Rupiah and backed by reserve assets, with the aim of reducing cross-border payment costs and supporting blockchain financial services. PT Nusantara Bumi Sangkara has obtained regulatory approval or confirmation from the Indonesian Financial Services Authority and is expected to become one of the first compliant stablecoin issuers in Indonesia.
