IDRT is the first Indonesian Rupiah-collateralized stablecoin that is pegged 1-to-1 to the Indonesian Rupiah. IDRT is issued by PT Rupiah Token Indonesia, an Indonesian-based startup. As an ERC-20 token built on Ethereum, IDRT inherits the speed, security, transparency, and other desirable characteristics of the Ethereum Blockchain. This combination of the Ethereum Blockchain and Indonesian Rupiah as a legal tender resulted in a digital asset that provides consumers with a stable store of value. The amount of Indonesian Rupiah stored and IDRT in circulation will always be of equal value, creating a constant 1-to-1 peg. Customers can always purchase 1 IDRT for 1 Indonesian Rupiah, and during such purchase, we store the Indonesian Rupiah as custody in trustworthy banks and financial institutions in Indonesia. We also allow customers to redeem IDRT back into Indonesian Rupiah at any time – after customers send us their IDRT, we will burn the IDRT (thereby removing the tokens from circulation) and give Indonesian Rupiah back to the customer. This 1-to-1 peg will result in a stable rupiah-denominated digital asset, ensuring 1 IDRT to always worth 1 Indonesian Rupiah.
Users can be assured of the 1-to-1 peg through a monthly audit / bank report we provide on our website.Rupiah Token Whitepaper