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Explanation of fiat currency
Fiat money is a currency without intrinsic value established as money by government regulation or law.
You can read more about fiat money on Investopedia.
Examples of fiat currencies are:
  • the United States Dollar (USD)
  • the Eurozone euro (EUR)
  • the United Kingdom’s pound sterling (GBP)
  • the Japanese Yen (JPY)
  • the Chinese Yuan (CNY)
On Kraken, we currently refer to Fiat currencies as "Cash" as it's a more commonly understood term. 

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