cryptonews.net
Indonesian Rupiah stablecoin IDRX has launched on the Celo blockchain. The token is issued by PT IDRX Indo Inovasi and is backed 1:1 by Rupiah reserves held as cash and Indonesian government bonds at regulated financial institutions.
Celo is a blockchain focused on payments and stablecoin use. Its ecosystem includes payment services, FX trading, remittances, and DeFi applications.
IDRX becomes the 20th currency token and the 33rd stablecoin available on Celo. The launch also gives the stablecoin access to onchain foreign exchange markets through Textile FX. Textile FX, a crosschain FX liquidity network, supports trading IDRX against Tether’s USDT from the first day. Institutional liquidity is provided by Tribeca Park Capital.
IDRX was already available on Lisk, an Ethereum Layer 2 network that plans to shut down on October 31. Lisk has recommended Celo as a new home for projects from its ecosystem.
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