TechnologyAugust 22, 2026
fiat
FEE-at
Definition
Government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the authority and stability of the issuing government.
Etymology
Derived from the Latin word 'fiat', meaning 'let it be done', the term was adopted into English to describe legal decrees. In finance, it signifies money that has value solely because a government declares it to be legal tender.
In the news
The article contrasts the use of stablecoins and crypto-native payment rails with traditional fiat currency systems, noting that merchants may choose to receive payments in either form.
Crypto’s next billion users might be AI agents, and they’re paying with stablecoins
Read the full article ↗CoinDesk