Fiat currencies are backed by governments which exist physically and can be exchanged for cash such as the US Dollar and the South African Rand. In the ChainEX context, Fiat currencies refer to any national currency which is not a digital currency. Fiat currencies are what you deposit into your ChainEX account to obtain or withdraw digital currencies.
Created by: Francois Odendaal
Modified on: Fri, 26 Jan, 2018 at 12:06 PM
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