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The phrase "is gaining currency" is a correct and usable phrase in written English.
It is usually used to describe an idea or notion that is becoming more and more popular or accepted. For example, "The idea that climate change is caused by human activity is gaining currency among scientists and policy makers."
Exact(50)
The power nap, he said, is gaining currency.
The style tribe as a concept is gaining currency.
But on Capitol Hill, currency is gaining currency.
But the idea is gaining currency that Britain may be an intolerable obstacle to European unity.
A new form of online advertising, sometimes called keyword advertising or sponsored links, is gaining currency.
He added that "in this economic environment," the slogan is gaining currency once more.
Similar(10)
No wonder their views are gaining currency.
These assertions are both dangerous and false, yet they're gaining currency.
Reasons to be cheerful A startlingly original idea has been gaining currency in recent weeks.
Euclid's ideas were gaining currency and the Arabic numbering system was spreading.
But the notion of intervening on humanitarian grounds had been gaining currency.
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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