- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
XIDR
About XIDR
XIDR is a stablecoin pegged to the Indonesian Rupiah, designed for cost-effective transactions and stability in the digital assets market. It supports various use cases, including global transfers, DeFi applications, and spending with StraitsX partners. XIDR was launched by StraitsX and issued by Xfers StraitsX Indonesia, a subsidiary of Fazz Financial Group, with significant involvement from Aymeric Salley, the Head of StraitsX.
XIDR is a fully collateralized Indonesian Rupiah stablecoin, designed to provide a stable store of value and unit of account denominated in Indonesian Rupiah (IDR) in digital assets markets. It aims to be the most cost-effective IDR-backed stablecoin, with features like free minting and redemption of XIDR with IDR via the StraitsX platform, and capped outbound on-chain transaction fees. XIDR operates on both the Ethereum and Zilliqa blockchains, available as ERC-20 tokens on Ethereum and as ZRC-2 tokens on Zilliqa.
XIDR serves several purposes:
Stable Store of Value: It acts as a stable store of value and unit of account in the digital assets markets, denominated in Indonesian Rupiah. Minting and Redemption: Individuals can mint and redeem XIDR on the StraitsX platform and spend it with StraitsX partners. Global Transfers: XIDR enables near-instant, low-cost global transfers in a secure and trusted manner without needing a third-party clearing agent. Wide Usage: It can be transferred, spent, and received with StraitsX partners across multiple blockchains and various supported applications. DeFi Applications: XIDR can be leveraged in Decentralised Finance (DeFi) applications, enabling users to swap or provide liquidity with XIDR.