Below you'll find the two definitions commonly used in the world of Financial Technology:
- Fiat is the financial term that describes any traditional government-backed currency such as US dollars, Euros, Mexican pesos, etc. When you're "depositing fiat" or "making a fiat transfer" it simply means transferring money from or to your regular bank account to your Custodian account.
- A digital asset is an all-encompassing term for today's digital currencies or coins - all Bitcoin, Ethereum, and the hundreds of others available to buy and sell. When you are "holding digital assets" or want to "custody digital assets" it simply means you're storing your various types of coins or digital currencies in highly secure wallets that are a part of our Custodian platform.