The Rise of Micro-Currency Eusko

06 May 2019  Mon

Micro-currencies are slowly gaining popularity in different parts of Europe. France, for example, has 60 different micro-currencies, and the most successful one is "Eusko". Several other European communities are trying to follow this trend.

Eusko was introduced in Basque, France, in 2013 to promote Basque culture and support local businesses by circulating local currency. Several municipal governments and local businesses are using this currency today. Euskos worth over €1 million was in circulation towards the end of 2018, making it the most successful local currency in Europe. €780,000 worth of Bristol pounds circulate in Bristol, and €648,000 worth of Chiemgauer circulate in Upper Bavaria.

Eusko is also being circulated as digital currency from 2017. 60,000 euskos are now being exchanged from euros every month, and 2-3 new eusko accounts being opened every day. 60 per cent of euskos in circulation are in digital form. Several organisations like the Institute of the Circular Economy of Wales, and a Belgian association that supports more than 20 Belgian local currencies, are interested to know more about this local currency.

Image Courtesy: Google images

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