Lion Group Holding, a trading platform operator, said on June 26 that it plans to take part in an investment of up to US$12 million in PT Nusantara Bumi Sangkara.

The investment in the rupiah-backed stablecoin developer will be executed through a non-cash share deal with Meili Capital Management.

Lion said it would gain an indirect 10% economic interest in Nusantara Bumi Sangkara through Meili or another designated investment vehicle.

Nusantara Bumi Sangkara is developing NIDR, a stablecoin pegged 1:1 to the Indonesian rupiah and backed by reserve assets. Lion said the company had received approval from Indonesia’s Financial Services Authority.

Under a 2024 regulation, the Financial Services Authority, or Otoritas Jasa Keuangan, took over oversight of digital financial assets on January 10, 2025. Backed crypto asset offerings above 1 billion rupiah (US$56,000) may require licensing and offering approval.

NIDR would enter a small but existing market. CoinGecko lists the rupiah stablecoin category at US$11.92 million, while StraitsX’s XIDR is already available on multiple blockchains.

🔗 Source: IDN Financial