INRx
 | |
| Industry | Blockchain services |
|---|---|
| Founded | 2020 |
| Founder | Deo foundation |
| Headquarters | Uttar Pradesh, India |
| Products | INRx stablecoin |
| Website | inrx |
INRx is a stablecoin pegged to the Indian Rupee (INR). It is developed by the INRx Network and is governed by the Deo Foundation. INRx aims to bridge the gap between traditional finance and the digital currency sector in India by providing a stable, compliant, and accessible digital asset.[1]
INRx is the first stablecoin specifically designed for the Indian economy and is revolutionizing how Indians interact with the crypto world. The INRx stablecoin can be used for everyday transaction, international remittances, e-commerce transactions, and invetsmnet and saving opportunities.[2]
History
Aman Vaths established the INRx Blockchain Network in 2021. It is an open-source, public blockchain managed by the DEO Foundation. The blockchain features 22 secured and simplified transaction rules. INRx supports various applications, including Decentralized Financial Reserved (DFR), Decentralized File Store System (DFS), Micro Payment System (MPS), and stable tokens.[3]
INRx launched its native currency, Analog Coin, with an initial price of 1 INRx (0.013 cents) during the Analog Inceptive sale in August 2022.[4]
Features
- INRx represents a significant advancement in India's digital finance landscape, offering an alternative locally compliant digital currency to global stablecoins like USDT.
- The INRx maintains a 1:1 peg with the Indian Rupee, ensuring that its value remains stable relative to the INR.
- It adheres to local Indian regulations, fostering trust and aligning with India's evolving cryptocurrency regulatory landscape.
- Its stable and user-friendly nature positions it as a potential cornerstone in India’s digital financial future, particularly in areas like remittances, payments, and decentralized finance (DeFi).
References
- ↑ "What Are Stable Coins and Why Are They Important?". www.linkedin.com. Retrieved 24 August 2024.
- ↑ "INRx - The Next Big Thing in India's Digital Finance". www.linkedin.com. Retrieved 24 August 2024.
- ↑ "inrx blockchain network to launch native currency analog coin". uniindia.com. Retrieved 24 August 2024.
- ↑ "INRx Blockchain Network to launch native currency analog coin". ANI News. Retrieved 24 August 2024.