Jakarta, June 30, 2020 - Binance, the global blockchain company behind the world’s largest digital asset exchange by trading volume and users, and Tokocrypto, the leading regulated cryptocurrency exchange in Indonesia, today listed Binance IDR (BIDR), a rupiah-backed stablecoin which users can now trade against other cryptocurrencies.
BIDR is a Binance Chain (BEP-2) stablecoin pegged to the Indonesian Rupiah (IDR). BIDR will be available for direct purchase and redemption at a rate of 1 BIDR, equivalent to 1 IDR. Users who deposit IDR into the existing fiat channels available on Tokocrypto will instantaneously receive BIDR. BIDR can also be transferred to and traded on Binance.
“It is a proud and exciting moment for Tokocrypto to work so closely with Binance in support of the BIDR project to bring about a brand-new movement to the crypto space in Indonesia," said Pang Xue Kai, Co-Founder and CEO of Tokocrypto.
From today, users can trade BIDR against five cryptocurrency pairings on the Binance and Tokocrypto platforms: Bitcoin (BTC), Binance Coin (BNB), Binance USD (BUSD), Tether (USDT) and Ethereum (ETH) at 15.00 WIB.
Changpeng Zhao (CZ), Founder and CEO of Binance said, “The development of the first Rupiah-backed Binance stablecoin has been the result of the strong partnership and ongoing collaboration between Binance and Tokocrypto. We hope to unlock more financial services for the greater blockchain ecosystem through the issuance of BIDR.”
Tokocrypto Digital Exchange is the leading regulated and one of the largest digital exchanges in Indonesia. Founded in 2018, Tokocrypto was born from a group of crypto enthusiasts with a strong belief in the benefits that blockchain technology offers to the public. Tokocrypto aims to be Indonesia leading exchange for digital exchange by providing customers with an easy, simple, instant, and secure platform to transact with confidence. Tokocrypto is also a hub for education and news on blockchain technology through close collaboration with Southeast Asian blockchain communities, universities, the public, and the Indonesian government.
For more information, visit: https://tokocrypto.com
Binance is the world’s leading blockchain and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by volume. Trusted by millions worldwide, the Binance platform is dedicated to increasing the freedom of money for users, and features an unmatched portfolio of crypto products and offerings, including: trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more.
For more information, visit: https://www.binance.com