StraitsX Indonesia Rupiah Stablecoin (XIDR) premiering on Liquid

In Announcements

We are thrilled to announce the immediate availability of StraitsX Indonesia Rupiah stablecoin XIDR on Liquid.

XIDR is the second stablecoin issued by StraitsX, following XSGD becoming the world’s largest non-USD denominated fiat-backed stablecoin. XIDR will be available on the Ethereum blockchain as an ERC-20 token and on the Zilliqa blockchain as a ZRC-2 token. XIDR is the only Indonesian Rupiah stablecoin that is not issued by an exchange.

Aymeric Salley, Head of StraitsX said, “According to a study by Google, the unbanked citizens still account for 66 percent of Indonesia’s 260 million population. Coupled with Indonesia’s tremendous growth in the FinTech, blockchain, and digital assets space, and strong demand for a trusted and compliant Indonesian Rupiah denominated stablecoin, XIDR presents a way for the unbanked population to gain access to financial services. It also represents our next step to enabling, democratizing and accelerating access to digital assets for individuals and businesses in Asia and beyond.” 

The Most Cost-effective Indonesian Rupiah on the blockchain

The StraitsX Indonesian Rupiah aims to be the most cost-effective Indonesian Rupiah stablecoin, with free bank transfers in & out, and transfer out fees (network fees for ERC-20 and ZRC-2) capped at 50,000 XIDR. To celebrate its launch in Indonesia, the XIDR transfer out fee will be waived for a limited time.

Issued by Trusted Financial Institutions in Southeast Asia

Each XIDR is a digital asset-backed by one Indonesian Rupiah that is being held and safeguarded in a regulated financial institution in Indonesia. XIDR will be issued by PT Xfers StraitsX Indonesia, which is an Indonesian subsidiary of Fazz Financial Group. In Singapore, as the subsidiary of Fazz Financial Group, Xfers is a Major Payment Institution licensed by the Monetary Authority of Singapore that issued XSGD, the world’s largest non-USD denominated fiat-backed stablecoin. In Indonesia, Fazz Financial Group empowers the community and promotes the adoption of digital finance by performing financial transactions on behalf of the unbanked and underbanked customers, which has obtained e-money issuance and fund transfer licenses from Bank Indonesia.

XIDR Listing Details

Listing Date: January 12th, 2022, at 3 PM (JST).

Listing pair: BTC/XIDR, USDC/XIDR.

From January 12th, 2022 - January 26th, 2022, we offer 0 fees for trading XIDR pairs on Liquid.

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