By Anthony Thio & Rupiah Token Team
Rupiah Token team is excited to announce that we have officially launched IDRT, the first Stablecoin that is backed 1:1 with Indonesian Rupiah (IDR).
Through our website, you can always convert 1 IDR into 1 IDRT. You can also convert IDRT back to IDR, making it simple for you to move between fiat and crypto.
Visit us at (https://rupiahtoken.com)to learn more and get started!
What is IDRT ?
- IDRT is a price-stable crypto asset (commonly called stablecoin) on the Ethereum blockchain that is backed 1-to-1 by IDR fiat deposits.
- The price of 1 IDRT is pegged at 1 Rupiah, because we guarantee that on our website, you can always convert 1 IDR into 1 IDRT and vice-versa.
- For each IDRT minted, we store 1 IDR fiat currency in a designated bank account. If IDRT is redeemed back to fiat IDR, we will “burn” or destroy the redeemed IDRT, removing those from the supply. This way, each IDRT in circulation is fully backed by IDR Rupiah.
What can I use IDRT for?
Blockchain-based digital assets (such as Bitcoin or Ethereum) are not suitable as a unit of account due to their inherent price volatility. IDRT eliminates that volatility while keeping the desired characteristics of Ethereum blockchain transaction — fast processing speed, immutable, and global.
In the short run, the most ready use case for IDRT is for Indonesian crypto traders who want to trade out of cryptocurrencies into Rupiah. In the long run, having Rupiah in the blockchain will enable more interesting use cases such as trusted borderless payments, remittances, and potentially new form of e-commerce. We will post updates on this blog, stay tuned!
How Can I Purchase / Redeem IDRT?
IDRT can be purchased/redeemed directly at https://rupiahtoken.com.
For a detailed step-by-step instruction, visit our guide here.
What Blockchain is IDRT built on?
IDRT is built on Ethereum blockchain and follows ERC-20 token standard. This means IDRT is inherently compatible with many existing Ethereum-based applications and wallets, enabling global transactions anywhere, anytime.
Our Token can be seen on any Ethereum block explorer such as Etherscan.
Check our token here: 0x998FFE1E43fAcffb941dc337dD0468d52bA5b48A
How can I store/keep IDRT?
IDRT can be stored in any ERC-20 compatible wallets, such as Trust Wallet or Metamask. In some wallets, you have to manually add our token. Check our guide here for some examples!
Is the IDRT Smart Contract secure?
Security is always on the top of our minds, and our Smart Contract has been audited by CertiK to be secure.
See our certificate here: https://certik.org/certificate.html?key=f03cd47f34550c8c92e34b49b2c31b52acd29c48633b1fe23948c0ed670b2b02.
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About Rupiah Token
PT Rupiah Token Indonesia is a venture-capital backed startup based in Jakarta, Indonesia. As a leading Blockchain technology company, our mission is to boost the acceptance of Indonesian Rupiah worldwide and accelerate the transition to a more inclusive and open financial system. Since our establishment in January 2019, we have been hard at work developing our service in Indonesia and listing our tokens on reputable exchanges and other cryptocurrency players.
Follow our Medium blog to stay up-to-date with our latest announcements!
Contacts:
Website: https://rupiahtoken.com/
Telegram: https://t.me/rupiahtokenindonesia
Twitter: https://twitter.com/RupiahTokenIDRT
Customer support: [email protected]
Partnerships & Investors: Jeth Soetoyo, CEO — [email protected]
Rupiah Token Launches IDRT, the First Rupiah Stablecoin was originally published in Rupiah Token Blog (EN) on Medium, where people are continuing the conversation by highlighting and responding to this story.