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IDRX Rupiah Stablecoin Launches on Celo

Guavy AI Editorial Team
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IDRX, a regulated Indonesian rupiah stablecoin, has launched on Celo, expanding its reach into global onchain FX markets. This move makes IDRX the 20th currency and 33rd stablecoin available on Celo's blockchain, which processes $6.2 billion in monthly volume.

IDRX is pegged 1:1 to the Indonesian rupiah and backed by fiat reserves and government bonds held in regulated financial institutions. This launch brings IDRX into Celo's ecosystem, optimized for payments, onchain FX trading, remittances, and decentralized finance (DeFi) applications.

Textile FX, a cross-chain liquidity provider born out of Celo, is a key partner in this deployment. Textile FX now supports IDRX trades against Tether's USD₮, leveraging institutional liquidity led by Tribeca Park Capital.

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