What it means
Ordinary government money such as the euro or the dollar, as held in a bank account.
Stablecoins are designed to track a fiat currency one for one.
How it works
On-ramps and off-ramps move between fiat and stablecoins.
Related terms
| Term | What it means |
|---|---|
| Stablecoin | A token on a blockchain designed to keep a steady value, usually one dollar or one euro, backed by reserves. |
| On-ramp | Turning money from your bank account into stablecoins. |
| Off-ramp | Turning stablecoins back into money in your bank account. |
This glossary explains terms in general. It isn't investment, tax or legal advice.