Coinstore Lists XIDR/USDT Trading Pairs

StraitsX is the first stablecoin initiative with a focus on Southeast Asia. The initiative explores the migration of centralized ledgers which document fund flows onto distributed ledger technology (DLT), thus enabling a leap forward in speed, security and transparency for settlements within the region. By adopting a DLT-enabled ledger for Southeast Asia, the StraitsX initiative allows participants to transact using trusted and secure tokens that are one-for-one collateralized and denominated in their native ASEAN fiat currencies. StraitsX tokens are governed under the trusted oversight of local regulators and independent third-party auditors; these authorities ensure that every token issued by StraitsX truly represents its corresponding ASEAN currency. For instance, every XIDR token is fully collateralized one-for-one by Indonesian Rupiah (IDR) and can be redeemed for one IDR. StraitsX’s fully collateralized one-for-one stablecoins improve on the existing model of money. Money in most modern societies performs three main functions: unit of account, store of value, and medium of exchange. Through enabling users to convert fiat money seamlessly into widely accepted DLT-enabled digital tokens, StraitsX improves on these three key functions of regular money for ASEAN markets.