What Are Rupee Standard Tokens And How Do They Work?
Rupee Standard tokens are assets that move across the blockchain just as easily as other digital currencies but that are pegged to real-world currencies on a 1-to-1 basis.
Rupee Standard tokens are referred to as stablecoins because they offer price stability as they are pegged to a fiat currency. This offers traders, merchants and funds a low volatility solution when exiting positions in the market.
All Rupee Standard tokens are pegged at 1-to-1 with a matching fiat currency (e.g., 1 RSS = 1 Indian Rupee ₹) and are backed 100% by Rupee Standard’s reserves.
As a fully transparent company, we publish a record of the current reserve assets.
How are Rupee Standard tokens Issued
More stability, more growth
Rupee Standard tokens have grown in popularity over the past few years, with a market cap of over US$65 billion (as of September 2022). Rupee Standard tokens allow customers the ability to transact across different blockchains, without the inherent volatility and complexity typically associated with digital tokens.
Rupee Standard tokens exist as digital tokens built on various blockchains including Algorand, Avalanche, Ethereum, EOS, Liquid Network, Near, Omni, Polygon, Solana, Bitcoin Cash’s Standard Ledger Protocol, Statemine, Statemint, Tezos, and Tron. Therefore, issuance of Rupee Standard tokens is viable on various blockchains with varying capabilities depending on the transport protocol used.
Rupee Standard only issues new Rupee Standard tokens when they are requested and purchased by customers who have followed our strict KYC procedure.