Government-issued currency that is not backed by a physical commodity but by the trust and authority of the issuing government. Examples: USD, EUR, UAH. The term "fiat" is also informally applied to USD-pegged stablecoins like USDT and USDC.
Government-issued currency that is not backed by a physical commodity but by the trust and authority of the issuing government. Examples: USD, EUR, UAH. The term "fiat" is also informally applied to USD-pegged stablecoins like USDT and USDC.