Rupiah Token Partners with Lambda 256 on their Luniverse Blockchain

Rupiah Token Indonesia, a stablecoin backed by fiat Indonesian Rupiah, announced a partnership with Lambda 256 on their Luniverse Blockchain. Lambda 256 was established by Dunamu—the company behind Upbit, one of the leading global cryptocurrency exchanges.

Founded in 2019, Rupiah Token (IDRT) is known as the first crypto asset which price is intended to mimic the value of the Indonesian Rupiah. Each token that is issued by Rupiah Token is backed by one Indonesian Rupiah, and can always be redeemed 1 to 1 for Rupiah. Since it was first established, Rupiah Token has consistently made efforts to push the global adoption of the Rupiah by digitizing Rupiah on the blockchain. Rupiah Token capitalizes on the speed, security, transparency and borderless nature of the blockchain.

According to the announcement, the adoption of the Luniverse blockchain platform is in line with the company’s mission to enhance the user experience by increasing token transfer speeds, lowering transaction costs, and ensuring maximum security.

Jeth, CEO of Rupiah Token has mentioned that “[He] believes building Rupiah Token on the Luniverse chain provides users with a solution that provides the lowest transaction fees and fastest speed compared to other blockchains.”

Rupiah Token has launched a token on the Luniverse platform with the ticker of IDRTL. Similar to IDRT, every IDRTL is guaranteed 100% by the appropriate IDR stored in an account subject to regular general reserve reporting and deposited in an Indonesian bank account. Traders can purchase or trade IDRTL at Upbit Indonesia with a pair of IDRTL/IDR.

About Luniverse

Luniverse provides the next-generation Blockchain as a Service (BaaS) platform that allows its users to greatly reduce the difficulties that blockchain-based application (DApp) developers may face in selecting, building and incorporating the suitable blockchain services in their applications. The high-performing blockchain services include side-chains, token and user management, and much more.

About Rupiah Token

PT Rupiah Token Indonesia is a venture-capital-backed startup based in Jakarta, Indonesia. As a leading Blockchain technology company, our mission is to boost the acceptance of Indonesian Rupiah worldwide and accelerate the transition to a more inclusive and open financial system. Since our establishment in January 2019, they have been developing their service in Indonesia and listing their tokens on reputable global cryptocurrency exchanges.