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The phrase "a medium of exchange" is correct and usable in written English.
It is typically used in economic contexts to refer to an item or currency that is widely accepted in transactions for goods and services.
Example: "In modern economies, money serves as a medium of exchange, facilitating trade between individuals and businesses."
Alternatives: "a means of transaction" or "a currency for trade".
Exact(59)
Coins are a medium of exchange.
Kola nuts are used locally as a medium of exchange.
His work instead offers a "medium of exchange".
Previously, cloth may have served as a medium of exchange.
In ancient societies banks helped money function as a medium of exchange.
The open space between actors and audience is a medium of exchange.
It's a medium of exchange, easier to measure than to define.
And any currency that is hard to use is less valuable as a medium of exchange.
In a market economy, people use money as a medium of exchange — a financial currency.
A medium of exchange, a unit of account and a store of value.
Similar(1)
Ultimately, profit is just money-a medium of exchange.
More suggestions(2)
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com