La Pive
The local currency of Franche-Comté, in circulation since 2017. One pive equals one euro. People exchange euros at local counters or through the App'Pive app and spend them at member businesses across the region. The city of Besançon accepts pives at its swimming pools, the Citadelle and the town hall. Around 365 businesses were in the directory in early 2021, with more than 125,000 pives in circulation.
A well-run euro-parity local currency with real municipal adoption in Besançon, scored like its French MLC siblings: strong debt-free issuance, full fiat dependence.
M69 Score
Scored against the Money2069 Manifesto — see methodology. Higher = more aligned.
Detailed Rating Breakdown
Issuance Model3x4.0
Pives enter circulation only when someone exchanges euros 1:1 at a counter or in the app. No debt anywhere in the design. Supply contracts when professionals reconvert, though the association discourages it and pushes local spending loops instead.
Spending Power Stability2x3.0
The peg imports the euro's purchasing power, a single moderate-stability reference. No mechanism of its own beyond full euro reserve backing under French ESS law.
Fiat Independence & Interoperability2x1.0
Euro parity, euro reserves in a French bank, legal existence under the 2014 ESS law. Unit of account, collateral and banking are all fiat.
Traction2x3.0
Nine years live. About 365 businesses in the 2021 directory and 125,000 pives circulating. Besançon and three smaller communes accept it for municipal services. One member association pays part of its salaries in pives. Membership is in the thousands at most.
Sovereignty2.0
A French association under national law holds the reserve and runs the ledger. It could wind the currency down, and the state could too.
Governance3.0
Loi 1901 association with a public charter, an annual general assembly and elected volunteers. Deliberation is member-only, not published.
Resilience3.0
Survived nine years including Covid on membership fees, subsidies and volunteer labour plus civic-service posts. No formal stress mechanism beyond the full euro reserve.
Inclusivity3.0
Open to anyone in the territory at low cost. Territorial by design, which bounds who can benefit. No anti-concentration mechanism and no targeted program for excluded groups.