BIDR

Overview

BIDR (Binary IDR) is a stablecoin pegged to the Indonesian Rupiah (IDR) created by Binance and Tokocrypto. It was designed to serve as a digital representation of the Indonesian Rupiah on various blockchain networks.

Purpose and Utility

The primary purpose of BIDR is to facilitate trading and transactions in the Indonesian crypto market by providing a stable digital equivalent to the Indonesian Rupiah. It enables Indonesian users to enter and exit crypto positions while maintaining value stability relative to their local currency.

Business Model

BIDR operates as a fiat-collateralized stablecoin, meaning each BIDR token is backed by actual Indonesian Rupiah held in reserve. The business model involves providing a bridge between traditional finance and crypto markets in Indonesia.

Real-World Adoption

BIDR is actively used on multiple exchanges, particularly on Binance and Tokocrypto, where it serves as a trading pair for various cryptocurrencies. It has gained traction among Indonesian traders and investors who need a stable IDR-pegged digital asset.

Platform Development

The stablecoin is maintained through the partnership between Binance and Tokocrypto, with regular audits and updates to ensure proper backing and functionality.