What is Rupiah Token?
Rupiah Token (IDRT / IDRTB) is the first Stablecoin that is backed 1-to-1 by Indonesian Rupiah (IDR).
What is a stablecoin?
"Stablecoin" is a class of crypto-assets with stable prices that resides on many blockchain networks. Normally, crypto-assets such as Bitcoin or Ethereum are not suitable as a unit of account due to their inherent price volatility. Stablecoin eliminates that volatility while keeping the desirable characteristics of blockchain network, such as allowing parties to transact globally anytime, anywhere.
As a Rupiah-backed stablecoin, the price of each Rupiah Token is stable at 1 Rupiah, because we guarantee that on our website (https://rupiahtoken.com), you can always convert 1 Rupiah into 1 Token and vice-versa.
What is IDRT and IDRTB?
Currently, Rupiah Token exists on two different blockchains:
- IDRT is an ERC-20 token that runs on Ethereum Blockchain
- IDRTB is a BEP-2 token that runs on Binance Chain
Both types of tokens are backed 1-to-1 by Indonesian Rupiah (IDR). The availability of Rupiah Token on different blockchains help ensure more use cases are supported.
What can Rupiah Token be used for?
In the short run, the most immediate use cases for IDRT / IDRTB is for Indonesian crypto traders who want to trade in/out of cryptocurrencies using 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.
Where can I learn more about IDRT / IDRTB?
For a quick overview about IDRT and IDRTB, check out our blog post below
- IDRT - https://medium.com/rupiahtoken-blog/rupiah-token-launches-idrt-the-first-rupiah-stablecoin-c536c8f8d9b0.
- IDRTB - https://medium.com/rupiahtoken-blog/rupiah-token-issuing-idrtb-stablecoin-on-binance-chain-db5ee1ae3beb
In addition, feel free to explore other articles in this FAQ / guide !