An asset that is interchangeable, i.e., its units are replaceable and all of which have standard characteristics that do exist or are uniformly available therein. Examples of fungible assets include fungible securities (shares, bonds, etc.) currency (fiat and digital money), precious metals, futures contracts, options (exchange-traded options), fungible products (e.g., packaged products), fungible commodities, etc.
Fungible assets are exchangeable and provide perfect or working substitutions (to each other) because they are effectively identical and carry the same value or value in use.
