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 ?
How do we effectively sidestep government issued and central bank backed fiat currency systems to protect our financial freedom?
Bitcoin investors often compare the cryptocurrency to gold as a safe haven and hedge against fiat currency inflation.
It will allow people to send money for a fraction of current rates, once they exchange their local fiat currency for Libra.
It provides fiat-to-crypto pairings and supports multiple fiat currency and stable coin conversion and trading.
lt shall not be construed to include e-money as defined under Section X780 of the Manual of Regulations for Banks, digital units used solely within online gaming platforms and are not convertible to fiat currency or real-world goods or services, digital units with stored value redeemable exclusively in goods or services and limited to transactions involving a defined merchant such as
With the help of this integration, participating stores will be able to convert to fiat currency whatever is necessary and keep a portion of the payments in cryptocurrency.
Prior to the development of fiat currency, governing authorities (e.g., monarchs) would demand tax payments in commodities.
Stablecoins are price-stable digital currencies, meaning their market price is pegged to the value of an underlying asset, such as precious metal or fiat currency like the US dollar.
Last summer's lira crisis, and the country's youthful, tech-savvy have provided an ideal proving ground in the search for alternatives to fiat currency.
The UAE and Saudi Arabia have started using digital currency which will be backed by fiat currency, Mubarak Rashid Al Mansouri, Governor of the UAE Central Bank, said on Wednesday.
Reduced costs of undertaking cross border money transfers Money exchange houses are now saving costs on fund transfers by converting one fiat currency into a digital currency and then exchanging the digital currency into another fiat currency at the beneficiary destination, reducing the costs of traditional money transfers and ultimately providing a saving for the customer.
Cryptocurrencies are different from fiat currency or "real currency", which is the physical money that makes up any country's legal tender, and they are also different from e-money, which is a digital representation of fiat currency.