diff --git a/src/app/boot/app_controller.nim b/src/app/boot/app_controller.nim
index a4d66a131ba..edeabb95277 100644
--- a/src/app/boot/app_controller.nim
+++ b/src/app/boot/app_controller.nim
@@ -168,7 +168,9 @@ proc newAppController*(statusFoundation: StatusFoundation): AppController =
   result.tokenService = token_service.newService(
     statusFoundation.events, statusFoundation.threadpool, result.networkService
   )
-  result.currencyService = currency_service.newService(result.tokenService, result.settingsService)
+  result.currencyService = currency_service.newService(
+    statusFoundation.events, statusFoundation.threadpool, result.tokenService, result.settingsService
+  )
   result.collectibleService = collectible_service.newService(statusFoundation.events, statusFoundation.threadpool, result.networkService)
   result.walletAccountService = wallet_account_service.newService(
     statusFoundation.events, statusFoundation.threadpool, result.settingsService, result.accountsService,
diff --git a/src/app/modules/main/browser_section/current_account/module.nim b/src/app/modules/main/browser_section/current_account/module.nim
index f1dc5e101a3..af84f69039e 100644
--- a/src/app/modules/main/browser_section/current_account/module.nim
+++ b/src/app/modules/main/browser_section/current_account/module.nim
@@ -27,6 +27,7 @@ type
     currentAccountIndex: int
 
 proc onTokensRebuilt(self: Module, accountsTokens: OrderedTable[string, seq[WalletTokenDto]])
+proc onCurrencyFormatsUpdated(self: Module)
 
 proc newModule*(
   delegate: delegate_interface.AccessInterface,
@@ -105,6 +106,9 @@ method load*(self: Module) =
     let arg = TokensPerAccountArgs(e)
     self.onTokensRebuilt(arg.accountsTokens)
 
+  self.events.on(SIGNAL_CURRENCY_FORMATS_UPDATED) do(e:Args):
+    self.onCurrencyFormatsUpdated()
+
   self.controller.init()
   self.view.load()
   self.switchAccount(0)
@@ -125,5 +129,10 @@ proc onTokensRebuilt(self: Module, accountsTokens: OrderedTable[string, seq[Wall
     return
   self.setAssets(accountsTokens[walletAccount.address])
 
+proc onCurrencyFormatsUpdated(self: Module) =
+  # Update assets
+  let walletAccount = self.controller.getWalletAccount(self.currentAccountIndex)
+  self.setAssets(walletAccount.tokens)
+
 method findTokenSymbolByAddress*(self: Module, address: string): string =
   return self.controller.findTokenSymbolByAddress(address)
diff --git a/src/app/modules/main/wallet_section/accounts/module.nim b/src/app/modules/main/wallet_section/accounts/module.nim
index 7d41a2c4efb..16bbffa4a5b 100644
--- a/src/app/modules/main/wallet_section/accounts/module.nim
+++ b/src/app/modules/main/wallet_section/accounts/module.nim
@@ -141,6 +141,9 @@ method load*(self: Module) =
   self.events.on(SIGNAL_WALLET_ACCOUNT_TOKENS_REBUILT) do(e:Args):
     self.refreshWalletAccounts()
 
+  self.events.on(SIGNAL_CURRENCY_FORMATS_UPDATED) do(e:Args):
+    self.refreshWalletAccounts()
+
   self.events.on(SIGNAL_NEW_KEYCARD_SET) do(e: Args):
     let args = KeycardActivityArgs(e)
     if not args.success:
diff --git a/src/app/modules/main/wallet_section/current_account/module.nim b/src/app/modules/main/wallet_section/current_account/module.nim
index cf218620f5c..c16ffdbdfdc 100644
--- a/src/app/modules/main/wallet_section/current_account/module.nim
+++ b/src/app/modules/main/wallet_section/current_account/module.nim
@@ -29,6 +29,7 @@ type
     currentAccountIndex: int
 
 proc onTokensRebuilt(self: Module, accountsTokens: OrderedTable[string, seq[WalletTokenDto]])
+proc onCurrencyFormatsUpdated(self: Module)
 
 proc newModule*(
   delegate: delegate_interface.AccessInterface,
@@ -68,6 +69,9 @@ method load*(self: Module) =
   self.events.on(SIGNAL_WALLET_ACCOUNT_TOKENS_REBUILT) do(e:Args):
     let arg = TokensPerAccountArgs(e)
     self.onTokensRebuilt(arg.accountsTokens)
+  
+  self.events.on(SIGNAL_CURRENCY_FORMATS_UPDATED) do(e:Args):
+    self.onCurrencyFormatsUpdated()
 
   self.controller.init()
   self.view.load()
@@ -153,6 +157,11 @@ proc onTokensRebuilt(self: Module, accountsTokens: OrderedTable[string, seq[Wall
     return
   self.setAssetsAndBalance(accountsTokens[walletAccount.address])
 
+proc onCurrencyFormatsUpdated(self: Module) =
+  # Update assets
+  let walletAccount = self.controller.getWalletAccount(self.currentAccountIndex)
+  self.setAssetsAndBalance(walletAccount.tokens)
+
 method findTokenSymbolByAddress*(self: Module, address: string): string =
   return self.controller.findTokenSymbolByAddress(address)
 
diff --git a/src/app/modules/main/wallet_section/module.nim b/src/app/modules/main/wallet_section/module.nim
index e267d2f51a5..6ee4dcef0d2 100644
--- a/src/app/modules/main/wallet_section/module.nim
+++ b/src/app/modules/main/wallet_section/module.nim
@@ -121,6 +121,8 @@ method load*(self: Module) =
   self.events.on(SIGNAL_WALLET_ACCOUNT_TOKENS_REBUILT) do(e:Args):
     self.setTotalCurrencyBalance()
     self.view.setTokensLoading(false)
+  self.events.on(SIGNAL_CURRENCY_FORMATS_UPDATED) do(e:Args):
+    self.setTotalCurrencyBalance()
 
   self.controller.init()
   self.view.load()
diff --git a/src/app/modules/main/wallet_section/transactions/controller.nim b/src/app/modules/main/wallet_section/transactions/controller.nim
index 718816278b4..09a8663ddff 100644
--- a/src/app/modules/main/wallet_section/transactions/controller.nim
+++ b/src/app/modules/main/wallet_section/transactions/controller.nim
@@ -83,6 +83,10 @@ proc init*(self: Controller) =
     let args = TransactionsLoadedArgs(e)
     self.delegate.setHistoryFetchState(args.address, isFetching = false)
 
+  self.events.on(SIGNAL_CURRENCY_FORMATS_UPDATED) do(e:Args):
+    # TODO: Rebuild Transaction items
+    discard
+
 proc watchPendingTransactions*(self: Controller): seq[TransactionDto] =
   return self.transactionService.watchPendingTransactions()
 
diff --git a/src/app/modules/shared_models/currency_amount_utils.nim b/src/app/modules/shared_models/currency_amount_utils.nim
index befa27e45dc..93345a9c8a0 100644
--- a/src/app/modules/shared_models/currency_amount_utils.nim
+++ b/src/app/modules/shared_models/currency_amount_utils.nim
@@ -5,6 +5,6 @@ proc currencyAmountToItem*(amount: float64, format: CurrencyFormatDto) : Currenc
   return newCurrencyAmount(
       amount,
       format.symbol,
-      format.displayDecimals,
+      int(format.displayDecimals),
       format.stripTrailingZeroes
     )
diff --git a/src/app_service/common/json_utils.nim b/src/app_service/common/json_utils.nim
index 55b93c99ef3..b0b0922bcb7 100644
--- a/src/app_service/common/json_utils.nim
+++ b/src/app_service/common/json_utils.nim
@@ -17,6 +17,14 @@ template getProp(obj: JsonNode, prop: string, value: var typedesc[int64]): bool
 
   success
 
+template getProp(obj: JsonNode, prop: string, value: var typedesc[uint]): bool =
+  var success = false
+  if (obj.kind == JObject and obj.contains(prop)):
+    value = uint(obj[prop].getInt)
+    success = true
+
+  success
+
 template getProp(obj: JsonNode, prop: string, value: var typedesc[uint64]): bool =
   var success = false
   if (obj.kind == JObject and obj.contains(prop)):
diff --git a/src/app_service/service/currency/async_tasks.nim b/src/app_service/service/currency/async_tasks.nim
new file mode 100644
index 00000000000..3a551ce0d4c
--- /dev/null
+++ b/src/app_service/service/currency/async_tasks.nim
@@ -0,0 +1,16 @@
+type
+  FetchAllCurrencyFormatsTaskArg = ref object of QObjectTaskArg
+    discard
+
+const fetchAllCurrencyFormatsTaskArg: Task = proc(argEncoded: string) {.gcsafe, nimcall.} =
+  let arg = decode[FetchAllCurrencyFormatsTaskArg](argEncoded)
+  let output = %* {
+    "formats": ""
+  }
+  try:
+    let response = backend.fetchAllCurrencyFormats()
+    output["formats"] = response.result
+  except Exception as e:
+    let errDesription = e.msg
+    error "error fetchAllCurrencyFormatsTaskArg: ", errDesription
+  arg.finish(output)
diff --git a/src/app_service/service/currency/dto.nim b/src/app_service/service/currency/dto.nim
index e7daa0ebcaa..c7eaf765e1c 100644
--- a/src/app_service/service/currency/dto.nim
+++ b/src/app_service/service/currency/dto.nim
@@ -1,6 +1,32 @@
+import json
+include  ../../common/json_utils
 
 type
   CurrencyFormatDto* = ref object
     symbol*: string
-    displayDecimals*: int
+    displayDecimals*: uint
     stripTrailingZeroes*: bool
+
+proc newCurrencyFormatDto*(
+  symbol: string,
+  displayDecimals: uint,
+  stripTrailingZeroes: bool,
+): CurrencyFormatDto =
+  return CurrencyFormatDto(
+    symbol: symbol,
+    displayDecimals: displayDecimals,
+    stripTrailingZeroes: stripTrailingZeroes
+  )
+
+proc newCurrencyFormatDto*(symbol: string = ""): CurrencyFormatDto =
+  return CurrencyFormatDto(
+    symbol: symbol,
+    displayDecimals: 8,
+    stripTrailingZeroes: true
+  )
+
+proc toCurrencyFormatDto*(jsonObj: JsonNode): CurrencyFormatDto =
+  result = CurrencyFormatDto()
+  discard jsonObj.getProp("symbol", result.symbol)
+  discard jsonObj.getProp("displayDecimals", result.displayDecimals)
+  discard jsonObj.getProp("stripTrailingZeroes", result.stripTrailingZeroes)
\ No newline at end of file
diff --git a/src/app_service/service/currency/service.nim b/src/app_service/service/currency/service.nim
index 61eb5b1ad16..63718428f45 100644
--- a/src/app_service/service/currency/service.nim
+++ b/src/app_service/service/currency/service.nim
@@ -1,79 +1,102 @@
-import NimQml, strformat, strutils, tables
+import NimQml, strformat, chronicles, strutils, tables, json
+
+import ../../../backend/backend as backend
+
+import ../../../app/core/eventemitter
+import ../../../app/core/tasks/[qt, threadpool]
+import ../../../app/core/signals/types
+
 import ../settings/service as settings_service
 import ../token/service as token_service
-import ./dto, ./utils
-import ../../common/cache
+import ./dto
+
+include  ../../common/json_utils
+include async_tasks
 
 export dto
 
-const DECIMALS_CALCULATION_CURRENCY = "USD"
+# Signals which may be emitted by this service:
+const SIGNAL_CURRENCY_FORMATS_UPDATED* = "currencyFormatsUpdated"
+
+type
+  CurrencyFormatsUpdatedArgs* = ref object of Args
+    discard
 
 QtObject:
   type Service* = ref object of QObject
+    events: EventEmitter
+    threadpool: ThreadPool
     tokenService: token_service.Service
     settingsService: settings_service.Service
-    isCurrencyFiatCache: Table[string, bool]                    # Fiat info does not change, we can fetch/calculate once and
-    fiatCurrencyFormatCache: Table[string, CurrencyFormatDto]   # keep the results forever.
-    tokenCurrencyFormatCache: TimedCache[CurrencyFormatDto]     # Token format changes with price, so we use a timed cache.
+    currencyFormatCache: Table[string, CurrencyFormatDto]
+
+  # Forward declarations
+  proc fetchAllCurrencyFormats(self: Service)
+  proc getCachedCurrencyFormats(self: Service): Table[string, CurrencyFormatDto]
 
   proc delete*(self: Service) =
     self.QObject.delete
 
   proc newService*(
+    events: EventEmitter,
+    threadpool: ThreadPool,
     tokenService: token_service.Service,
     settingsService: settings_service.Service,
   ): Service =
     new(result, delete)
     result.QObject.setup
+    result.events = events
+    result.threadpool = threadpool
     result.tokenService = tokenService
     result.settingsService = settingsService
-    result.tokenCurrencyFormatCache = newTimedCache[CurrencyFormatDto]()
   
   proc init*(self: Service) =
-    discard
+    self.events.on(SignalType.Wallet.event) do(e:Args):
+      var data = WalletSignal(e)
+      case data.eventType:
+        of "wallet-currency-tick-update-format":
+          self.fetchAllCurrencyFormats()
+          discard
+    # Load cache from DB
+    self.currencyFormatCache = self.getCachedCurrencyFormats()
+    # Trigger async fetch
+    self.fetchAllCurrencyFormats()
+
+  proc jsonToFormatsTable(node: JsonNode) : Table[string, CurrencyFormatDto] =
+    result = initTable[string, CurrencyFormatDto]()
+
+    for (symbol, formatObj) in node.pairs:
+      result[symbol] = formatObj.toCurrencyFormatDto()
+
+  proc getCachedCurrencyFormats(self: Service): Table[string, CurrencyFormatDto] =
+    try:
+      let response = backend.getCachedCurrencyFormats()
+      result = jsonToFormatsTable(response.result)
+    except Exception as e:
+      let errDesription = e.msg
+      error "error getCachedCurrencyFormats: ", errDesription
+
+  proc onAllCurrencyFormatsFetched(self: Service, response: string) {.slot.} =
+    try:
+      let responseObj = response.parseJson
+      if (responseObj.kind == JObject):
+        let formatsPerSymbol = jsonToFormatsTable(responseObj)
+        for symbol, format in formatsPerSymbol:
+          self.currencyFormatCache[symbol] = format
+        self.events.emit(SIGNAL_CURRENCY_FORMATS_UPDATED, CurrencyFormatsUpdatedArgs())
+    except Exception as e:
+      let errDescription = e.msg
+      error "error onAllCurrencyFormatsFetched: ", errDescription
 
-  proc isCurrencyFiat(self: Service, symbol: string): bool =
-    if not self.isCurrencyFiatCache.hasKey(symbol):
-      self.isCurrencyFiatCache[symbol] = isCurrencyFiat(symbol)
-    return self.isCurrencyFiatCache[symbol]
-
-  proc getFiatCurrencyFormat(self: Service, symbol: string): CurrencyFormatDto =
-    if not self.fiatCurrencyFormatCache.hasKey(symbol):
-      self.fiatCurrencyFormatCache[symbol] = CurrencyFormatDto(
-        symbol: toUpperAscii(symbol),
-        displayDecimals: getFiatDisplayDecimals(symbol),
-        stripTrailingZeroes: false
-      )
-    return self.fiatCurrencyFormatCache[symbol]
-
-  proc getTokenCurrencyFormat(self: Service, symbol: string): CurrencyFormatDto =
-    if self.tokenCurrencyFormatCache.isCached(symbol):
-      return self.tokenCurrencyFormatCache.get(symbol)
-
-    var updateCache = true
-    let pegSymbol = self.tokenService.getTokenPegSymbol(symbol)
-    if pegSymbol != "":
-      let currencyFormat = self.getFiatCurrencyFormat(pegSymbol)
-      result = CurrencyFormatDto(
-        symbol: symbol,
-        displayDecimals: currencyFormat.displayDecimals,
-        stripTrailingZeroes: currencyFormat.stripTrailingZeroes
-      )
-      updateCache = true
-    else:
-      let price = self.tokenService.getCachedTokenPrice(symbol, DECIMALS_CALCULATION_CURRENCY, true)
-      result = CurrencyFormatDto(
-        symbol: symbol,
-        displayDecimals: getTokenDisplayDecimals(price),
-        stripTrailingZeroes: true
-      )
-      updateCache = self.tokenService.isCachedTokenPriceRecent(symbol, DECIMALS_CALCULATION_CURRENCY)
-
-    if updateCache:
-      self.tokenCurrencyFormatCache.set(symbol, result)
+  proc fetchAllCurrencyFormats(self: Service) =
+    let arg = FetchAllCurrencyFormatsTaskArg(
+      tptr: cast[ByteAddress](fetchAllCurrencyFormatsTaskArg),
+      vptr: cast[ByteAddress](self.vptr),
+      slot: "onAllCurrencyFormatsFetched",
+    )
+    self.threadpool.start(arg)
 
   proc getCurrencyFormat*(self: Service, symbol: string): CurrencyFormatDto =
-    if self.isCurrencyFiat(symbol):
-      return self.getFiatCurrencyFormat(symbol)
-    else:
-      return self.getTokenCurrencyFormat(symbol)
+    if not self.currencyFormatCache.hasKey(symbol):
+      return newCurrencyFormatDto(symbol)
+    return self.currencyFormatCache[symbol]
\ No newline at end of file
diff --git a/src/app_service/service/currency/utils.nim b/src/app_service/service/currency/utils.nim
deleted file mode 100644
index 3a63396cae1..00000000000
--- a/src/app_service/service/currency/utils.nim
+++ /dev/null
@@ -1,33 +0,0 @@
-import math, chronicles, json, strutils
-import ../../../backend/backend as backend
-
-logScope:
-  topics = "currency-utils"
-
-proc isCurrencyFiat*(symbol: string): bool =
-    let response = backend.isCurrencyFiat(symbol)
-    return response.result.getBool
-
-proc getFiatDisplayDecimals*(symbol: string): int =
-    result = 0
-    try: 
-        let response = backend.getFiatCurrencyMinorUnit(symbol)
-        result = response.result.getInt
-    except Exception as e:
-        let errDesription = e.msg
-        error "error getFiatDisplayDecimals: ", errDesription
-
-proc getTokenDisplayDecimals*(currencyPrice: float): int =
-    var decimals = 0.0
-    if currencyPrice > 0:
-        const lowerCurrencyResolution = 0.1
-        const higherCurrencyResolution = 0.01
-        let lowerDecimalsBound = max(0.0, log10(currencyPrice) - log10(lowerCurrencyResolution))
-        let upperDecimalsBound = max(0.0, log10(currencyPrice) - log10(higherCurrencyResolution))
-
-        # Use as few decimals as needed to ensure lower precision
-        decimals = ceil(lowerDecimalsBound)
-        if (decimals + 1 < upperDecimalsBound):
-            # If allowed by upper bound, ensure resolution changes as soon as currency hits multiple of 10
-            decimals += 1
-    return decimals.int
diff --git a/src/app_service/service/settings/service.nim b/src/app_service/service/settings/service.nim
index e1f0b169ecf..a288c331ea9 100644
--- a/src/app_service/service/settings/service.nim
+++ b/src/app_service/service/settings/service.nim
@@ -17,7 +17,7 @@ export settings_dto
 export stickers_dto
 
 # Default values:
-const DEFAULT_CURRENCY* = "usd"
+const DEFAULT_CURRENCY* = "USD"
 const DEFAULT_TELEMETRY_SERVER_URL* = "https://telemetry.status.im"
 const DEFAULT_FLEET* = $Fleet.StatusProd
 
@@ -106,7 +106,7 @@ QtObject:
     if(self.settings.currency.len == 0):
       self.settings.currency = DEFAULT_CURRENCY
 
-    return self.settings.currency
+    return self.settings.currency.toUpperAscii()
 
   proc saveDappsAddress*(self: Service, value: string): bool =
     if(self.saveSetting(KEY_DAPPS_ADDRESS, value)):
diff --git a/src/app_service/service/token/service.nim b/src/app_service/service/token/service.nim
index 7b9129be107..7cbc1d508b8 100644
--- a/src/app_service/service/token/service.nim
+++ b/src/app_service/service/token/service.nim
@@ -50,7 +50,6 @@ QtObject:
     priceCache: TimedCache[float64]
 
   proc updateCachedTokenPrice(self: Service, crypto: string, fiat: string, price: float64)
-  proc initTokenPrices(self: Service, prices: Table[string, Table[string, float64]])
   proc jsonToPricesMap(node: JsonNode): Table[string, Table[string, float64]] 
 
   proc delete*(self: Service) =
@@ -70,13 +69,6 @@ QtObject:
     result.priceCache = newTimedCache[float64]()
 
   proc init*(self: Service) =
-    try:
-      let response = backend.getCachedPrices()
-      let prices = jsonToPricesMap(response.result)
-      self.initTokenPrices(prices)
-    except Exception as e:
-      error "Cached prices init error", errDesription = e.msg
-
     try:
       let networks = self.networkService.getNetworks()
     
@@ -148,14 +140,6 @@ QtObject:
       for (currency, price) in pricePerCurrency.pairs:
         result[symbol][currency] = price.getFloat
 
-  proc initTokenPrices(self: Service, prices: Table[string, Table[string, float64]]) =
-    var cacheTable: Table[string, float64]
-    for token, pricesPerCurrency in prices:
-      for currency, price in pricesPerCurrency:
-        let cacheKey = getTokenPriceCacheKey(token, currency)
-        cacheTable[cacheKey] = price
-    self.priceCache.init(cacheTable)
-
   proc updateTokenPrices*(self: Service, tokens: seq[WalletTokenDto]) =
     # Use data fetched by walletAccountService to update local price cache
     for token in tokens:
diff --git a/src/backend/backend.nim b/src/backend/backend.nim
index bfc78579e9a..fd54f4ee640 100644
--- a/src/backend/backend.nim
+++ b/src/backend/backend.nim
@@ -105,9 +105,6 @@ rpc(fetchPrices, "wallet"):
   symbols: seq[string]
   currencies: seq[string]
 
-rpc(getCachedPrices, "wallet"):
-  discard
-
 rpc(generateAccountWithDerivedPath, "accounts"):
   password: string
   name: string
@@ -292,8 +289,8 @@ rpc(getBalanceHistory, "wallet"):
   address: string
   timeInterval: int
 
-rpc(isCurrencyFiat, "wallet"):
-  code: string
+rpc(getCachedCurrencyFormats, "wallet"):
+  discard
 
-rpc(getFiatCurrencyMinorUnit, "wallet"):
-  code: string
+rpc(fetchAllCurrencyFormats, "wallet"):
+  discard