Launched in 2019, IDK is a cryptographic token that is issued by IDK Foundation Ltd., a BVI trust company (No: BC2010749). IDK is pegged 1: 1,000 to IDR, the Indonesian Rupiah and is built on the Ethereum Network according to the ERC20 token standard. IDK is a stablecoin that seeks to drive the adoption of digital currencies in Indonesia, the largest economy in Southeast Asia. According to the team, for every 1,000 Rupiah that is deposited into the IDK Foundation’s appointed custodian, one IDK will be issued. For every 1,000 Rupiah that is withdrawn from the IDK Foundation’s appointed custodian, one IDK will be taken out of circulation.

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