Definition ∞ Singleness of money refers to the principle that all forms of money within an economy should be universally interchangeable and accepted at par value, regardless of their specific digital or physical representation. This concept promotes fungibility and simplifies transactions across different payment systems. It ensures a cohesive and efficient monetary system.
Context ∞ In the digital asset space, the concept of singleness of money is debated, particularly with the emergence of various stablecoins, central bank digital currencies, and decentralized tokens. News often discusses the challenges of achieving true fungibility and universal acceptance across diverse digital currencies. Regulatory bodies and financial institutions consider how to ensure interoperability and prevent fragmentation within the broader digital payment landscape.
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