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The meaning of FUNGIBLE is being something (such as money or a commodity) of such a nature that one part or quantity may be replaced by another equal part or quantity in paying a debt or settling an account. How to use fungible in a sentence.
uk / ˈfʌndʒəbl / us. COMMERCE, FINANCE, LAW. something such as a currency, share, or goods, that can easily be exchanged for others of the same value and type: Several million dollars of fungibles were illicitly moved from the bank.
In economics and law, fungibility is the property of a good or a commodity whose individual units are essentially interchangeable. [1][2] In legal terms, this affects how legal rights (such as ownership and the right to receive goods under a contract) apply to such items.
FUNGIBLE definition: 1. easy to exchange or trade for something else of the same type and value: 2. easy to exchange or…. Learn more.
If something is fungible, you can exchange it for something else. Why is it that you can trade a twenty dollar bill for a ten and two fives? Because money's fungible!
noun. 1. (often plural) moveable perishable goods of a sort that may be estimated by number or weight, such as grain, wine, etc. adjective. 2. having the nature or quality of fungibles. 3. (of a commodity or asset) replaceable or interchangeable with another of the same type. Collins English Dictionary.
Fungibility is the ability of a good or asset to be interchanged with other individual goods or assets of the same type. Fungible assets simplify the exchange and trade...
Fungible definition: (especially of goods) being of such nature or kind as to be freely exchangeable or replaceable, in whole or in part, for another of like nature or kind. See examples of FUNGIBLE used in a sentence.
Of a product or commodity that has been contracted for: that can be replaced by another identical item without breaking the terms of the contract. More generally: interchangeable, replaceable. 1649. Take away this fungible instrument from the service of our necessities, and how shall we exercise our Charity?
something that is fungible can be replaced by something else that is exactly the same. Cryptocurrency, like other forms of money, is fungible.