Woofun AI reports that Nasdaq-listed Lion Group Holding Ltd. intends to invest up to $12 million in Indonesian fintech firm PT Nusantara Bumi Sangkara through Meili Capital Management Ltd. The transaction involves no cash payment, with Lion Group acquiring a 10% indirect economic interest via common stock or equity-linked securities.

PT Nusantara Bumi Sangkara is developing NIDR, a stablecoin pegged 1:1 to the Indonesian Rupiah and backed by reserve assets. Designed to reduce cross-border payment costs and support blockchain financial services, the project has secured regulatory approval from the Indonesian Financial Services Authority, positioning it as one of the first compliant stablecoin issuers in the nation.