Monetization is the process of converting goods into money. The monetization of gold is quite common.

When a country establishes a certain currency, or paper money, it uses monetization to establish a commodity with real, recognized value — like precious gems, silver, or gold — to back up the value of that printed cash. You can also refer to the process of printing of money as monetization. Monetization comes from the 1800s verb monetize, or "circulate as money," from its Latin root word moneta, "money."

Definitions of monetization

n establishing something (e.g. gold or silver) as the legal tender of a country

demonetisation, demonetization
ending something (e.g. gold or silver) as no longer the legal tender of a country
Type of:
proof, substantiation, validation
the act of validating; finding or testing the truth of something

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