About BIDR (BIDR)
BIDR, Binance IDR, is a stablecoin digital asset which is tied and correlated with the Rupiah, Indonesian fiat currency. Such stablecoins are often referred to as ‘alt stablecoins’ as their peg is tied to a fiat currency other than the US Dollar.
The BIDR stablecoin asset is supported by Tokocrypto, a fully regulated digital currency exchange in Indonesia. Initially, Binance was also actively involved in supporting the creation and launch of BIDR.
As a stablecoin pegged directly to the Rupiah, 1 BIDR is equivalent to 1 Rupiah. The relationship between the digital asset and its fiat peg enables holders to maintain a clear valuation for their BIDR holdings.
The BIDR ecosystem often refers to it as a stabletoken, as it's built on the BNB Chain. Additionally, BIDR is minted on the BEP2 standard, specifically on the BNB Beacon Chain.
The stabletoken was developed with the idea that holders would be able to utilize BIDR to buy other tokens on the Tokocrypto platform. Tokocrypto has its own network cryptocurrency, Toko Token or TKO, which is the main digital asset associated with the platform.
BIDR is known by its token ticker $BIDR. BIDR price is updated and available in real-time on Binance.