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to demonetize
01
to cease to use something as a legal currency or declare it invalid for transactions
demonetize
v
Example
Digital payment systems aim to gradually demonetize cash transactions for convenience and security.
Some countries have chosen to demonetize certain coins due to their high production costs.
The bank's policy to demonetize outdated checks required customers to issue new ones.
The company decided to demonetize its old gift cards to introduce a new, updated system.
