IDRX Indonesian Rupiah Stablecoin Launches on Celo with Textile FX Liquidity

The Indonesian Rupiah stablecoin IDRX has launched on the Celo network, making it the 20th global currency tokenized on the payments-focused blockchain. The deployment adds a regulated, fiat-backed asset to the network, which now processes $6.2 billion in monthly volume.

IDRX is backed one-to-one by rupiah-denominated reserves held at regulated financial institutions, with reserve documentation published and audited by independent third parties. This provides users with fast, low-cost, and always-on FX markets and global payments.

Celo's stablecoin lineup has expanded significantly in recent months, including the launches of the Nigerian naira's cNGN and the Tether-supported USAT dollar stablecoin earlier this year.