Rupiah Token
Crypto Overview
Overview
Rupiah Token (IDRT) is a stablecoin pegged 1:1 to the Indonesian Rupiah (IDR), launched in 2019 by PT Rupiah Token Indonesia. It operates on multiple blockchain networks including Ethereum, Binance Smart Chain, and Polygon.
Intended Utility
The primary purpose of IDRT is to provide a stable, digital representation of the Indonesian Rupiah on blockchain networks, facilitating easier cross-border transactions and enabling Indonesian users to participate in the global digital economy while maintaining value stability in their local currency.
Actual Utility and Adoption
IDRT has achieved significant adoption within the Indonesian cryptocurrency ecosystem, being actively used on major exchanges like Binance, Indodax, and Tokocrypto. The token maintains consistent trading volumes and is commonly used for trading pairs in Indonesian crypto markets.
Business Model Analysis
The token operates on a fully-backed model where each IDRT is backed by actual IDR held in designated Indonesian banks. Regular audits are conducted to ensure the 1:1 backing ratio is maintained. The revenue model primarily comes from minimal fees for minting and burning operations.
Founder Assessment
PT Rupiah Token Indonesia maintains transparent operations with clear regulatory compliance under Indonesian law. The team has maintained consistent development and management of the token since its launch, with no signs of manipulative practices.
Technical Implementation
The smart contracts governing IDRT have been audited and follow standard ERC-20 and BEP-20 token implementations. The minting and burning processes are controlled through a permissioned system with proper security measures.
Crypto Impact
To assign a comfort level investing in Rupiah Token from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Rupiah Token.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.