You can say something
like that. I have the feeling though, that there may be a better way of phrasing it. How about:
He uses X like a coin which is (freely ?) accepted [] where it is in circulation.
I think the doubt I have about your version is that if the comparison "like a coin" works, the explanation "by the members of the community" explains what doesn't need to be explained. And I think "like a coin" does work.
Of course, my version assumes that "X" is accepted by the community he speaks to. If it isn't, then this would need to be said differently, to tell us that his expectation isn't realized.