BusinessJuly 5, 2026
fiat
/ˈfiːæt/
Definition
A currency that a government has declared to be legal tender, but which is not backed by a physical commodity like gold or silver.
Etymology
Derived from the Latin word 'fiat' meaning 'let it be done' or 'it shall be,' reflecting a command or decree. It entered English in the 16th century, later evolving to describe an authoritative sanction or decree used to establish currency value.
In the news
The article uses the term to differentiate traditional government-issued currencies from decentralized cryptocurrencies. It highlights the distinction between digital assets and the standard money systems regulated by central authorities.
Top 10 Cryptocurrencies Of July 3, 2026
Read the full article ↗Forbes