Latvian lats Latvian lats The lats (plural: "lati" (2–9) "latu" (10 and more)), ISO 4217 currency code: LVL or 428) was the currency of Latvia from 1922 until it was replaced by the euro on 1 January 2014. A two-week transition period during which the lats was in circulation alongside the euro ended on 14 January 2014. It is abbreviated as "Ls" and was subdivided into 100 "santīmi" (singular: "santīms"; from French "centime"). The lats was first introduced on 3 August 1922, replacing the Latvian rublis at a rate of 1 lats = 50 rubļi. The lats was pegged against the gold
Digital currency founded in 1996 and backed by gold. Another known digital currency service was Liberty Reserve, founded in 2006; it lets users convert dollars or euros to Liberty Reserve Dollars or Euros, and exchange them freely with one another at a 1% fee. Both services were centralized, reputed to be used for money laundering, and inevitably shut down by the U.S. government. Q coins or QQ coins, were used as a type of commodity-based digital currency on Tencent QQ's messaging platform and emerged in early 2005. Q coins were so effective in China that they were said to have had a