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What is Basket of Currencies?

Crypto Terms Glossary: What is Basket of Currencies?

A basket of currencies (as they relate to blockchain) can be a pool of tokenized real-world assets such as commodities, bonds, securities, and stablecoins that represent fiat currencies. Additionally, a basket of currencies can also consist of bitcoin (BTC), ether (ETH), and other large cap cryptocurrencies. In traditional finance, a basket of currencies is simply a collection of multiple stocks or securities that are often from the same — or a similar — asset class. These baskets can be used for derivatives trading and for the function of financial instruments, and they are often managed by institutional investment funds, hedge funds, mutual funds, and exchange-traded funds (ETFs).

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