Zilliqa expressed:  We’re excited to announce XIDR on the Zilliqa blockchain, the first Indonesian Rupiah fiat-backed stable coin in the world.

Serving the unbanked Indonesia is home to 275 million people, with 66% of the population unbanked. The XIDR will serve as a tool for these people to access financial products. Zilliqa is proud to empower the unbanked with StraitsX.  To financial inclusion.

StraitsX launched Indonesian Rupiah (XIDR), which is the first Indonesian Rupiah fiat-backed stable coin is now on Ethereum and Zilliqa blockchain.

StraitsX expressed:  XIDR will always be convertible at a one for one rate with IDR on the StraitsX platform.

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 stable coin, XIDR presents a way for the unbanked population to gain access to financial services It also represents our next step to enabling, democratising and accelerating access to digital assets for individuals and businesses in Asia and beyond.”

Further stated, “2 years ago, StraitsX was an idea. Since then, it became an initiative, then a product, then a suite of products. Today, we’re proud to reach a new milestone: a standalone brand and platform! Welcome StraitsX, the #1 stable coin platform in Asia.”

Community Reaction:  If the coin will be available on both ETH and ZIL network, I’d say most of that capital will go to ETH.

Perhaps would be cool to clarify the advantages of XIDR compared to the other rupiah stables?

It’s wrong data, Indonesia in 2020 have 91.3 million (35%) and in 2021 only 28 million (9%).

Sooner or later the adoption will grow. In Zilliqa we trust.

For clarity, StraitsX is the payments infrastructure for digital assets. It enables fast and safe access to digital assets markets and decentralised finance applications through the StraitsX APIs and stable coins for individuals and businesses.

XSGD is the digital Singapore Dollar running on the Ethereum and Zilliqa blockchains, which is regulatory complaint, fully backed with fiat reserves, transparent and trusted, multi-chain XSGD.

XSGD in action:  Send Singapore Dollar on the Blockchain, Interoperable across Digital Asset Markets, Supported by DeFi Protocols.

Those who are keen about profits, Leverage XSGD in Decentralized Finance applications or “DeFi”. Swap or provide liquidity with XSGD to take part in the future of finance.