Legal Tender
Currency mandated by law for debt settlement, including digital forms.
What is Legal Tender?
Legal tender like e-CNY holds equivalent value to physical RMB, mandatory for acceptance in China since pilots began. By 2025, e-CNY transactions reach RMB 7 trillion, backed by sovereign credit.
In digital assets, it positions CBDCs as alternatives to cash, with e-CNY’s M0 status ensuring zero fees and interoperability. This status drives merchant adoption in 23 pilot cities.
Related Terms
Perpetual Swap
Also called Perpetual Futures, a derivative contract allowing traders to speculate on digital asset prices without an expiration date.
Hash
A fixed-length string generated by a cryptographic function to uniquely represent data in the Bitcoin blockchain.
Ether (ETH)
Ether(ETH) is the native digital asset of the Ethereum blockchain, used to pay for transaction fees and computational services.
Crypto-backed Stablecoin
A digital asset backed by other digital assets, often overcollateralized to ensure stability.
US GAAP Stablecoin Classification
Accounting standards under U.S. Generally Accepted Accounting Principles treating certain USD-pegged stablecoins as cash equivalents.
Swap Gas Fee
The swap gas fee is the cost paid in a blockchain’s native token (e.g., ETH on Ethereum) to process a token swap transaction on a decentralized exchange (DEX), covering computational resources used by network validators.