IOU
a.k.a. I owe you
Short for 'I owe you': an informal acknowledgement of a debt.
In plain English
Short for 'I owe you': an informal acknowledgement of a debt.
An IOU is a promise to pay, written or understood. In a sense, every bond and bank deposit is a formal IOU.
In crypto and fintech, the word sometimes describes tokens that represent a claim on an asset held elsewhere. The claim is only as good as whoever issued it.
Keep this word for good
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