Lion Group Plans Up to $12 Million Investment for Indirect Stake in Indonesian Fintech

Lion Group Holding Ltd., a Nasdaq-listed company, plans to invest up to $12 million in Indonesian fintech firm PT Nusantara Bumi Sangkara through Meili Capital Management Ltd., in exchange for a 10% indirect economic interest, with no cash payment involved. According to ChainCatcher, the transaction would be structured via the issuance of common shares or equity-linked securities. PT Nusantara Bumi Sangkara is developing NIDR, an Indonesian rupiah stablecoin designed to be pegged 1:1 to the rupiah and backed by reserve assets. The company aims to use the stablecoin to reduce cross-border payment costs and support blockchain-based financial services. The report said the firm has received regulatory approval or confirmation from Indonesia’s Financial Services Authority, positioning it to potentially become among the country’s first compliant stablecoin issuers.