Rupiah Token, on the event of Indonesian 74th Independence Day, announced IDRTB to be introduced on Binance Chain. With this, IDRTB will be the first ever non-USD Asian Currency to be listed on Binance Chain. In addition, they plan to introduce IDRTB as a currency exchange pair on Binance DEX.
After the launch of IDRT – first Rupiah based stablecoin in beginning of August, 2019 this news has Asian Cryptocurrency market excited. IDRTB Purchase / Redemption will be open to the public by the end of the month.
IDRTB is built on Etherum blockchain and follows ERC-20 token standards making it compatible with the existing Etherum based wallets, global transactions, etc. IDRT inherits the speed, security, transparency, and other desirable characteristics of the Ethereum Blockchain.
IDRTB is Binance version of IDRT. 1 IDRTB is equivalent to 1 Rupiah (Indonesia’s Fiat Currency). For each IDRTB minted, 1 Rupiah is being stored into a bank account. If IDRTB is redeemed, the equivalent Rupiah will be burned
Birth of IDRTB –
This addition will be beneficial for Indonesian Traders as they will trade in their native currency and exchange rates won’t affect the economy. At present, USDSB is the USD -based stablecoin listed on Binance DEX. In the future, with enough votes, IDRTB may get traded against USDSB. This will cause a great peak in the Indonesian economy.
Cryptocurrencies like Blockchain and Ethereum are volatile due to their price changes. To overcome this volatility, a stablecoin was introduced IDRT which has ratio 1:1 to Rupiah. IDRTB, being the blockchain version of IDRT functions in a similar fashion.
Swapping of IDRT and IDRTB will be made possible on the official website of rupiah token by the end of September, 2019.
IDRT and IDRTB are still in plans of partnering with other exchanges. In the future, we may be able to trade cryptocurrencies with IDRTB. Isn’t this exciting? Let us know your views.