fiat money

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

American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

fiat money

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

Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014

fi′at mon`ey

paper currency made legal tender by a fiat of the government, but not based on or convertible into coin.

[1870–75]

ThesaurusAntonymsRelated WordsSynonymsLegend:

Noun

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

n → Papiergeld nt → ohne Deckung

Collins German Dictionary – Complete and Unabridged 7th Edition 2005. © William Collins Sons & Co. Ltd. 1980 © HarperCollins Publishers 1991, 1997, 1999, 2004, 2005, 2007

Mentioned in

References in periodicals archive

How do we effectively sidestep government issued and central bank backed fiat currency systems to protect our financial freedom?

SELF SOVEREIGN WEALTH SHOULD BE EVERYONE'S GOAL

Bitcoin investors often compare the cryptocurrency to gold as a safe haven and hedge against fiat currency inflation.

7 Things To Know Before Investing In Bitcoin

It will allow people to send money for a fraction of current rates, once they exchange their local fiat currency for Libra.

Strategic digital partnership

It provides fiat-to-crypto pairings and supports multiple fiat currency and stable coin conversion and trading.

South Korea's Crypto.com chain token to be listed on Bithumb global exchange

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

Virtual currencies

Prior to the development of fiat currency, governing authorities (e.g., monarchs) would demand tax payments in commodities.

Virtual Money Illusion and the Fundamental Value of Non-Fiat Anonymous Digital Payment Methods Coining a (Bit of) Theory to Describe and Measure the Bitcoin Phenomenon

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.

Creating a price-stable cryptocurrency

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.

Why money transactions between UAE, Saudi just became that much easier

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.

Why crypto currencies are becoming more stable than ever

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.

Reconciling cryptocurrency in Islamic finance