Rupiah Token is the first and most adopted Stablecoin backed 1:1 by Indonesian Rupiah which means its price is intended to imitate the value of Indonesian Rupiah.
Rupiah Token currently runs on top of 3 blockchains (Ethereum, Binance Chain, and Luniverse) therefore it gets the advantage of each blockchains. IDRT as an Ethereum-based Token (ERC-20) gets the speed, security, transparency, and other desirable characteristics of the Ethereum Blockchain. This also means that IDRT is fundamentally well-suited with many existing Ethereum-based applications using smart contracts and wallets, enabling varied applications within Decentralized Finance realm and global transactions anywhere and anytime.
The main use case of IDRT is to enable Indonesian cryptocurrency traders to access global liquidity in global cryptocurrency exchanges which is why IDRT has been ambitious regarding adoption and constantly expanding and working with renowned exchanges. Although trading is the main use case that is currently visible, Rupiah Token team has a big vision for IDRT and is constantly exploring use cases outside of crypto trading such as Remittance, Cross Border trade, and Decentralized Finance which is why we are working with partners such as Pundi X and Sablier.
IDRT is issued by PT Rupiah Token Indonesia, an Indonesian-based startup. The price of 1 IDRT is pegged at 1 Rupiah because the amount of circulating IDRT is equivalent with the total deposited IDR Fiat in Rupiah Token Bank Account which is verified via monthly audit done by 3rd party auditor and this monthly attestation is routinely published in Rupiah Token site. In line with that, Rupiah Token team guarantees that users can always convert 1 IDRT into 1 IDR Fiat and vice-versa.
IDRT’s advantages lie primarily in the technology and connectivity as they have good relationships with prominent banks which enabled automated processing and transfer of IDRT for every purchase via rupiahtoken.com to the user’s wallet. IDRT also partners with local and regional market makers to boost liquidity and enable them to connect with top global exchanges. In terms of security, IDRT is insured by Curv wallet that gives more protection to users and the smart contract has been audited by Certik.
As a leading Blockchain technology company, Rupiah Token vision is to boost the acceptance of Indonesian Rupiah worldwide and accelerate the transition to a more inclusive and open financial system.
Interested in joining IDRT staking? Read the details here.