In America, money is type FIAT. It is set by the operation of the Federal Reserve Bank. The Bank contracts with the Treasury’s Bureau of Engraving and Printing to provide negotiable paper as Federal Reserve Notes. Then, a paper value (by operation of law) is contracted as the principle value in Notes.
America has the money, the principle value of the dollar. The Bank retains a smaller fraction guarantying liquidity against bank failure.
America’s Federal Reserve Bank is a corporate entity. The dollar is printed by the Treasury at the corporate Printing Office for Congress (the Legislature).