medium of exchange

noun phrase

: something commonly accepted in exchange for goods and services and recognized as representing a standard of value

Examples of medium of exchange in a Sentence

Recent Examples on the Web Its purpose was to compete with fiat currencies as an electronic P2P currency system, medium of exchange, and store of value comparable to digital gold. The Salt Lake Tribune, 9 Aug. 2023 Much of this increase in volume can be attributed to the role that stablecoins play in the DeFi sector, both as a medium of exchange and hedges against more volatile cryptoassets. Sean Stein Smith, Forbes, 16 July 2023

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'medium of exchange.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

First Known Use

1714, in the meaning defined above

Time Traveler
The first known use of medium of exchange was in 1714

Dictionary Entries Near medium of exchange

Cite this Entry

“Medium of exchange.” Dictionary, Merriam-Webster, Accessed 27 Sep. 2023.

More from Merriam-Webster on medium of exchange

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