StraitsX Presents XIDR Stablecoin Business Account in Indonesia

Digital asset platform developer startup StraitsX announces the presence of business accounts for stablecoin XIDR in Indonesia. This business account provides affordable, easy, accessible, and affordable digital asset infrastructure and solutions developer-friendly for SMEs and corporations.

StraitsX itself is part of startup fintech Xfers, which is currently also a member of the Fazz Financial Group.

Head of StraitsX Aymeric Salley said, stablecoin XIDRO has great potential in the global financial ecosystem, in addition to its main function in crypto transactions in blockchain public. Stablecoin can help facilitate the delivery of digital assets to anyone, without any intermediaries, thus providing a faster and cheaper delivery option.

“Many areas fintech that we can build on stablecoin. This potential is in line with our goal of building a strong digital asset ecosystem that can be relied upon by local and international partners," he explained in a virtual press conference yesterday (23/2).

Menurut datareportal.com, 51,1% of Indonesia's 270 million population fall into the category of underbanked and unbanked, while the internet penetration rate is only 73,3%. with growth fintech, blockchain, and digital assets so rapidly, the demand for stablecoin The compatible rupiah is getting higher. Therefore, XIDR is here to provide an easy and secure way for people who do not have a bank account to access financial services.

“Digital economic activity continues to increase so that demand for digital assets is not only from investors, but also from business actors. From a broader perspective, this trend also shows how business and industry can promote financial inclusion, where digital literacy plays an important role,” added Business Development Manager StraitsX Indonesia Kinansyah Pramaditia.

Business accounts have broader capabilities than StraitsX personal accounts. Business users have higher transaction limits compared to personal accounts, features advanced account management, and the solution that developer-friendly in the form of a ready-to-use API for collecting, disbursing, and reconciling customer funds.

Stablecoin XIDRO

As for stablecoin this is useful for exchanging crypto assets to avoid price fluctuations, the option of exchanging fiat currency to stablecoin powered by fiat, using stablecoin to make payments globally, and this blockchain-based payment system eliminates middlemen in transactions.

It is claimed, sending XIDR can be done anytime within minutes without any intermediary. Unlike traditional finance, for fiat transfers, especially overseas, it takes more than seven days.

XIDR aims to be stablecoin The most cost-effective Rupiah while offering maximum utility to the owner. The process of printing and exchanging XIDR to Rupiah can be done free of charge through the StraitsX platform, with a transaction fee on-chain restricted. Users can take advantage of the capabilities stablecoin XIDR to send Rupiah reliably and securely to protocol blockchain Ethereum and Ziliqa.

Salley said, it is possible for his party to open more public blockchain networks so that XIDR's utility is wider, not limited to Ethereum and Ziliqa only. She says, gas fees which is expensive for every contract registered on the blockchain network is one of the frictions that affect many parties in the adoption process.

"That's why many people are reluctant to spend their money on gas fees which is expensive, especially on Ethereum. Ziliqa we choose because gas feesit is cheap and affordable for everyone. We are opening up the possibility of logging into other popular blockchain networks.”

It is claimed that the StraitsX platform has completed more than 130 thousand transactions valued at more than S$2,5 billion over the past year. XSGd has a market capitalization of over $200 million. XIDR is expected to be able to follow the successful launch of XSGD in the future.