Blockchain Glossary

Fiat

Fiat

August 30th, 2021   |   Updated on March 7th, 2022

Fiat money, in a broad sense, all kinds of money that are made legal tender by a government decree or fiat. The term is, however, usually reserved for legal-tender paper money or coins that have face values far exceeding their commodity values and are not redeemable in gold or silver.