From Wikipedia, the free encyclopedia

The STM (single transactional monetary unit, often referred to as the stem and represented by the & symbol) is the name of the official global currency.  Created by government treaty and public referendum after the financial crisis of 2049, the STM, according to many economists, saved the global economy from total collapse.  

Though the value of the STM was initially pegged to the U.S. dollar ($), it was deemed important by all of the parties involved that a new name and symbol be developed for the world's first global currency.  As a result, several hundred proposals were submitted to the OneMarket Finance Board, of which six finalists were selected and a worldwide referendum held to decide on the name and design of the new global currency.