Lion Group Holding to Invest $12 Million in Indonesian Fintech PT Nusantara Bumi Sangkara

iconAiCoin
Share
AI summary iconSummary
Lion Group Holding, a NASDAQ-listed company, is set to invest $12 million through Meili Capital in Indonesian fintech PT Nusantara Bumi Sangkara. The investment will grant Lion a 10% indirect stake via equity-linked securities. PT Nusantara Bumi Sangkara is developing NIDR, a rupiah-pegged stablecoin backed by reserves to reduce cross-border payment costs. The project has received regulatory approval from Indonesia’s Financial Services Authority. Blockchain news continues to spotlight such developments as major players expand into emerging markets. The company aims to become one of Indonesia’s first compliant stablecoin issuers.

According to Crowdfundinsider, 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., acquiring a 10% indirect economic interest in exchange for common shares or equity-linked securities, with no cash payment involved. PT Nusantara Bumi Sangkara is developing the Indonesian rupiah-backed stablecoin NIDR, which is pegged 1:1 to the Indonesian rupiah and backed by reserve assets, aiming to reduce cross-border payment costs and enable blockchain-based financial services. PT Nusantara Bumi Sangkara has received regulatory approval or confirmation from Indonesia’s Financial Services Authority and is poised to become one of Indonesia’s first compliant stablecoin issuers.

Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.