👉 Fiats refers to a type of cryptocurrency that is based on the concept of "fiat" or paper money. It was developed by Binance, an exchange platform for trading cryptocurrencies and has gained popularity due to its decentralized nature and the fact that it allows users to trade without intermediaries. Fiats are often used as a form of alternative payment system in several countries around the world, including those with weak financial systems, where central banks have difficulty controlling inflation or deflation.
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