Lion Group to Invest $12M in Indonesian Stablecoin Firm PT Nusantara Bumi Sangkara on June 26

According to IDN Financial, on June 26, Lion Group announced plans to invest up to US$12 million in PT Nusantara Bumi Sangkara, an Indonesian rupiah-backed stablecoin developer, through a non-cash share deal with Meili Capital Management. The trading platform operator will gain an indirect 10% economic interest in the company.

Nusantara Bumi Sangkara is developing NIDR, a stablecoin pegged 1:1 to the Indonesian rupiah and backed by reserve assets. The company has received approval from Indonesia's Financial Services Authority. The Indonesian rupiah stablecoin category currently holds approximately US$11.92 million in total market value, with StraitsX's XIDR already available on multiple blockchains.