With the Mint feature, all StraitsX account holders – Personal or Business – can mint up to 500,000,000 XIDR per transaction.
Find out how to start minting XIDR with your StraitsX Personal or Business Account with the steps below.
Step 1: Complete your first transfer.
For first-time user, complete your first deposit from bank account to your StraitsX Account to activate “Mint” feature.
In case you have not linked your bank account to StraitsX, here is how.
Step 2: Select virtual account
Go to “Mint” tab and select a virtual account.
Step 3: Select the blockchain network you want to mint XIDR to
Next, select the type of blockchain network you would like to mint XIDR to.
Do note that StraitsX only supports ERC-20 and ZIL-2 token standards on the Ethereum and Zilliqa networks respectively.
Step 4: Select the blockchain address you would like to mint XIDR to
Select a blockchain address to mint XIDR to. Ensure that your blockchain address or personal (non-custodial) wallet has been linked and whitelisted.
If you have not linked or whitelisted your blockchain address or personal (non-custodial) wallet, here is how.
Step 5: Authenticate your transaction
You will get a prompt to authenticate your Mint transaction. Head to your chosen authenticator app like Google Authenticator to input the 6-digit code.
Step 6: Follow the on-screen instructions
Here, the Mint feature generates a separate virtual bank account that is different from the one generated by the main StraitsX site.
Please ensure that you input this virtual bank account number into your banking app, and label it separately (i.e. StraitsX Mint vs Straits Personal Account) to reduce confusion.
Once you have done the aforementioned steps, you can keep minting XIDR for up to 500,000,000 XIDR per transaction.
IDR and XIDR are converted at a 1:1 rate. Network fees apply and are capped at 50,000 XIDR per transfer for personal accounts. Currently, the network fees will be waived for a limited time.