QRypto
Scan QRIS, Pay with Crypto.
About
The problem it solves  **QRypto solves the critical "last-mile" problem in crypto adoption in Indonesia.** Despite Indonesia ranking **#3 globally in crypto adoption with 21.27 million crypto investors** and a mature **QRIS payment infrastructure serving 52.5M active users** and **33.7M merchants**, crypto remains economically idle in daily transactions. The fundamental issue isn't lack of users, merchants, or even regulation—**the bridge connecting crypto liquidity to real-world payments simply doesn't exist**. Current regulations already permit controlled integration through **POJK 3/2024 regulatory sandbox** and **Project Garuda**, yet no compliant infrastructure enables instant crypto-to-QRIS settlement.  **Existing crypto payment workflows are operationally broken and prohibitively expensive.** Converting crypto to usable IDR requires **4-5 fragmented steps across multiple platforms**—transferring to an exchange, selling crypto, withdrawing to a bank/e-wallet, then finally making a QRIS payment. This process takes **10-60 minutes** instead of seconds, incurs **3-5% in layered fees** (trading fees, spreads, withdrawal costs), and creates high transaction uncertainty. **No single entity owns the end-to-end payment flow**: crypto wallets lack fiat settlement, exchanges lack merchant integration, and payment gateways lack on-chain connectivity. For Web3 earners and crypto tourists, this friction makes daily crypto spending irrational.  **QRypto addresses a massive, untapped market opportunity.** Indonesia's **Rp 302 trillion annual QRIS transaction volume** represents the total addressable market (TAM). Within this, **Rp 21-42 trillion per year** constitutes realistic crypto-funded spending that could shift to crypto-powered QRIS payments (SAM). **QRypto targets a beachhead market of Rp 1.2-2 trillion annually within 5 years**, focusing on high-intent user segments: **Indonesian Web3 earners** (22-35 years old, Jakarta/Bandung) who receive salaries in crypto but face costly bank withdrawals for daily expenses, and **crypto-savvy tourists** (25-40 years old, predominantly in Bali) who want cashless, universal QRIS acceptance without relying on money changers.  **QRypto collapses multi-step friction into a single, compliant, real-time payment flow.** The Alpha version validates technical feasibility: users scan QRIS, QRypto connects to their wallet and converts supported crypto into **IDRX** (a regulated stablecoin), then IDRX is instantly converted to IDR and settled to the merchant's account—fully compliant with Indonesian regulations. The Beta version achieves sub-30-second settlement by pre-authorizing payments through locked IDRX balances and releasing **pre-funded IDR float** to merchants, **eliminating latency and settlement risk**. This enables crypto to function as a **usable means of daily payment**, not just a tradable asset, while maintaining full regulatory compliance, **tiered KYC/AML monitoring**, and **real-time liquidity management.**
How it's made
Challenges we ran into **Our biggest technical hurdle was achieving compliant, instant fiat settlement without a PJP switching license.** During Alpha development, we discovered that **QRIS strings contain National Merchant IDs (NMID)** rather than direct bank account details, making direct "outbound" payments to merchants **impossible without specific Payment System Infrastructure Provider (PJP) authorization**. Indonesian regulations require all IDR settlements to flow through **licensed PJP and PFAK partners**. To overcome this for the MVP, we engineered a **hybrid mapping system**: our backend parses QRIS strings to extract merchant IDs and matches them against an internal registry, then triggers **PJP disbursements** as a compliant proxy. The **Beta version roadmap** addresses this structurally by pre-authorizing payments through **locked IDRX balances and pre-funded IDR float**, enabling **sub-30-second settlement** while we formalize PJP partnerships.  **We mapped critical stakeholders early to ensure QRypto's long-term operational viability.** Using a **Penta Helix collaboration framework**, we identified that successful implementation requires **coordinated engagement across five ecosystem layers**: (1) **Tech Infrastructure partners** (IDRX, midtrans) who provide QRIS API access and enable direct IDRX-to-IDR redemption—these are **high-power, high-interest stakeholders we must manage closely**, (2) **Government & Regulators** (BI, OJK) who authorize and supervise QRIS and crypto activities—we keep them **satisfied through proactive compliance**, (3) **Academy & Research institutions** (CFDS, ameru) who conduct impact assessments to validate our model—we **monitor their outputs**, and (4) **Users & Ecosystem participants** who adopt the system and provide feedback—we **stay informed of their needs**. This stakeholder mapping ensures we're building **strategic partnerships with PJP providers, regulatory alignment with POJK 3/2024**, and **ecosystem readiness** before national scale.  **We proactively identified and planned mitigation strategies for six critical operational risks.** Our **Severity-Occurrence Matrix** reveals that **(1) Liquidity & Float Risk** and **(5) AML/CFT & Illicit Transaction Risk** are the **highest-priority threats**—both materialize rapidly (<1 month) with high impact. We mitigate liquidity risk through **transaction caps (≤IDR 2M), pre-funded IDR float, and real-time liquidity monitoring**. For AML exposure, we implement **tiered KYC, real-time transaction monitoring, and regulator-ready audit trails. (4) Regulatory Classification Risk** is lower-frequency but **structurally critical**: we mitigate by positioning QRypto strictly as an **instant crypto off-ramp** (not a payment instrument), ensuring merchants only receive **IDR via licensed PJP and PFAK partners**. We also address **(2) System Reliability & Latency Risk** through **asynchronous processing, optimistic settlement, and SLA-backed integrations**, **(3) User Error & UX Friction** via **pre-transaction validation and time-bound quotes**, and **(6) IDRX Peg & Issuer Risk** by requiring **full reserve transparency and locking IDR value at confirmation time**. **Additionally, we solved critical UX friction around gas fees using Account Abstraction.** Users holding IDRX but lacking ETH for blockchain gas fees would experience failed transactions. We implemented **Coinbase Paymaster** to fully sponsor network fees, ensuring **100% transaction success** and eliminating the "insufficient gas" error entirely—users never need to manage gas, making the experience as seamless as traditional e-wallets.