fiat money

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fiat money

n.
Legal tender, especially paper currency, authorized by a government but not based on or convertible into gold or silver.

fiat money

n
(Banking & Finance) chiefly US money declared by a government to be legal tender though it is not convertible into standard specie

fi′at mon`ey


n.
paper currency made legal tender by a fiat of the government, but not based on or convertible into coin.
[1870–75]
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.fiat money - money that the government declares to be legal tender although it cannot be converted into standard specie
folding money, paper currency, paper money - currency issued by a government or central bank and consisting of printed paper that can circulate as a substitute for specie
Translations

fiat money

nPapiergeld ntohne Deckung
References in periodicals archive ?
Until such time that such cryptocurrencies are able to demonstrate stability, the prospect that they will replace today's fiat currencies are far off; they are simply too volatile,' he said.
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Despite being quite small relative to national fiat currencies such as the U.
In the coming years, it will be more stable than many of the 180+ fiat currencies in the world.
Many people believe that fiat currencies will eventually collapse, and that gold will re-emerge as the global currency.
The Japanese government in April 2017 introduced legislation to officially recognize cryptocurrency as a payment method equivalent to fiat currencies such as the Yen or the US Dollar.
According to its promoters, Bitcoin has a steady-state supply of 21 million units, so it cannot be debased like fiat currencies.
Nocks allows consumers and business to pay and get paid using fiat currencies but with the transaction being orchestrated by the Gulden blockchain to improve the speed, transparency and security of payments.
Fiat currencies refer to money issued by governments, such as the dollar or the euro.
It's usually a case of convenience, especially when we talk about fiat currencies involved," he said.