IDRX Stablecoin Launches on Celo Blockchain

The IDRX stablecoin has launched on the Celo blockchain. PT IDRX Indo Inovasi issued the token, which is backed by Rupiah reserves held as cash and Indonesian government bonds at regulated financial institutions.

Celo focuses on payments and stablecoins, offering services like payment systems, FX trading, remittances, and DeFi applications.

IDRX becomes the 20th currency token and the 33rd stablecoin available on Celo. It also gains access to onchain foreign exchange markets through Textile FX.

Textile FX supports trading IDRX against Tether's USDT from day one, with institutional liquidity provided by Tribeca Park Capital.