fiat money


Definition of fiat money

: money (such as paper currency) not convertible into coin or specie of equivalent value

Examples of fiat money in a Sentence

Recent Examples on the Web It was originally developed as an alternative to fiat money. Greg Khojikian, Forbes, 7 Mar. 2022 Cryptocurrencies are very different from hard currencies backed by central banks, like the U.S. dollar, which are known as fiat money and have been made legal tender by government decree. Tristan Bove, Fortune, 7 Feb. 2022 For now, the main utility of cryptocurrency is still as something to be exchanged for fiat money. Tristan Bove, Fortune, 7 Feb. 2022 The process involves purchasing a cryptocurrency with fiat money. Chris Smith, BGR, 19 Jan. 2022 If anything, crypto’s incredible capacity for reinventing wheels should enhance our appreciation for the economic, legal, and social technologies of fiat money, banking, capital markets, and prudent regulation. Andrew Stuttaford, National Review, 17 Oct. 2021 Despite our best efforts, fiat money moves at the pace of first-class mail. Matt Hougan, Forbes, 12 Oct. 2021 As Grimes pointed out, any player with AXS can log onto the exchange platform Coinbase, trade AXS for the Ethereum (ETH) cryptocurrency, and then cash in that ETH for fiat money like the dollar. Samantha Hissong, Rolling Stone, 6 Dec. 2021 In November, Square published a white paper describing plans for a decentralized cryptocurrency exchange for trading Bitcoin, fiat money or real-world goods. Kurt Wagner, Fortune, 2 Dec. 2021 See More

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'fiat money.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of fiat money

1876, in the meaning defined above

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The first known use of fiat money was in 1876

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Dictionary Entries Near fiat money

fiat lux

fiat money


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Statistics for fiat money

Last Updated

20 Mar 2022

Cite this Entry

“Fiat money.” Dictionary, Merriam-Webster, Accessed 16 May. 2022.

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