medium of exchange

American  

noun

1. anything generally accepted as representing a standard of value and exchangeable for goods or services.

---

medium of exchange British  

noun

1. anything acceptable as a measure of value and a standard of exchange for goods and services in a particular country, region, etc

---

Etymology

Origin of medium of exchange

First recorded in 1730–40

Example Sentences

Metal coins may be just about the oldest medium of exchange still in use today, but ensuring their worth requires some of the most state-of-the-art technology available.

From Science Daily

For most of crypto’s existence, we’ve been debating just what sort of financial product it is: a medium of exchange, like the dollar, or a store of value, like gold or stock certificates.

From Washington Post

It is frequently mentioned as a measure and medium of exchange in Icelandic legal texts, as well as sales accounts, church inventories and farm registers, from the 1100s into the 17th century.

From Scientific American

Terra was “designed as a medium of exchange, not an investment,” a Terraform Labs spokesperson said in an email statement.

From Washington Post

They are popular as safe-havens in times of turmoil in crypto markets and are a common medium of exchange, often used by traders to move funds around and speculate on other cryptocurrencies.

From Reuters