Government-issued currency (USD, EUR, GBP). “Fiat” comes from the Latin for “let it be done” — fiat currency has value because the issuing government decrees it does. In crypto context, “fiat ramps” refer to services that convert fiat to crypto and back; “fiat-pegged” refers to stablecoins tied to a specific fiat currency.
Fiat
Government-issued currency (USD, EUR, GBP). "Fiat" comes from the Latin for "let it be done" — fiat currency has value because the issuing government decrees it does. In crypto context, "fiat ramps" refer to services that convert fiat to crypto and back; "fiat-pegged" refers to stablecoins tied to a specific fiat currency.
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