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Frequently Asked QuestionsWhat does Fiat mean?

From a Latin term meaning an official decree, fiat currency is a form of payment that has value because it is backed by a government resolution. Fiat refers to money that is mainstream, legal tender, of any denomination, and issued and backed by a federal government. Examples of fiat is money in denominations of US Dollars (USD), Euros (EUR), Canadian Dollars (CAD), British Pounds (GBP), Australian Dollars (AUD), Yuan, etc.

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