medium of exchange

anything generally accepted as representing a standard of value and exchangeable for goods or services.

1730–40 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
medium of exchange
anything acceptable as a measure of value and a standard of exchange for goods and services in a particular country, region, etc

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Example sentences
We have the technology to move to a more efficient, convenient, freely flowing
  medium of exchange.
As a medium of exchange, it functions as a public utility, similar to public
And since the yuan is already a good store of value, it will soon also become a
  medium of exchange.
Money can only be used as an accepted medium of exchange or an instrument of
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