That is pretty cool! So, basically, if a merchant requests payment of $5 and the buyer only has a $4 and a $3 token then the buyer exchanges her $3 token for t

That is pretty cool! So, basically, if a merchant requests payment of $5 and the buyer only has a $4 and a $3 token then the buyer exchanges her $3 token for three $1 tokens with the exchange (without involvement of the merchant) and then pay the merchant with a $4 and a $1 token?