Zinne
The Zinne is Brussels' citizen local currency, launched in March 2019 and pegged 1:1 to the euro with full reserve backing. Circulating as paper notes and digital accounts across all 19 Brussels municipalities, it is accepted by roughly 190 independent businesses and around 40 exchange points, and is run democratically by a nonprofit association with support from the Financité network and the Brussels-Capital Region.
A textbook citizen local currency done well: democratically governed, fully reserved, fee-free, with real cash privacy and seven years of stable operation across Brussels. Its ceiling is the classic one — it is a euro satellite with a small user base, so it scores as local resilience infrastructure rather than monetary innovation.
M69 Score
Scored against the Money2069 Manifesto — see methodology. Higher = more aligned.
Detailed Rating Breakdown
Issuance Model3x4.0
Rule-based, debt-free issuance: Zinnes enter circulation only when citizens exchange euros at par, and leave when merchants redeem (IM-01: 3, IM-02: 5, IM-05: 4). Supply is fully elastic with local demand (IM-04: 4) but anchored to euro deposits rather than a real-economy index (IM-03: 2). Average 3.6 rounds to 4.
Spending Power Stability2x3.0
Full euro reserve and at-par convertibility have held parity without incident since 2019 (SPS-01: 3, SPS-04: 5), but the benchmark is the euro with its inflation (SPS-02: 2), the mechanism is regional by design (SPS-06: 2), and long-term purchasing power is not separately addressed (SPS-05: 3). Weighted 3.1.
Fiat Independence & Interoperability2x1.0
A euro satellite by construction: euro unit of account (FI-01: 1), euro reserves in a bank (FI-02: 1, FI-03: 1), no life after a euro collapse (FI-05: 1), and fiat parity treated as permanent (FI-06: 2). Shared infrastructure with the Financité family of Belgian local currencies gives limited network interoperability (FI-08: 2). Weighted 1.2.
Traction2x3.0
Seven years of continuous operation (TR-02: 4) across ~190 businesses in all 19 municipalities (TR-04: 3), with institutional partners including the City of Brussels, the Brussels-Capital Region, and Financité (TR-07: 4) and a strong citizen identity rooted in Brussels folklore (TR-11: 4). User base remains in the low thousands (TR-03: 2) and prices are euro-equivalents rather than independent Zinne denomination (TR-05: 2). Weighted 3.0.
Sovereignty2.0
A Belgian nonprofit in a single jurisdiction (SO-03: 1) whose digital accounts run on the shared Financité platform (SO-02: 2, SO-06: 3); paper notes are bearer instruments with genuine cash privacy while digital accounts are identified (SO-04: 3, SO-08: 4). The 1:1 backing rule is association policy, not enforced by technology (SO-09: 2). Weighted 2.4.
Governance3.0
Democratic association governance with a general assembly and working groups (GO-01: 4, GO-02: 3), a founding charter of local, ethical, and democratic values (GO-07: 4), and one-member-one-vote resistance to plutocratic capture (GO-04: 3). Deliberation happens in meetings rather than public archives (GO-03: 3). Weighted 3.2.
Resilience3.0
Radically simple model — a fully backed 1:1 voucher — that any team could rebuild (RE-04: 5, RE-05: 4) and that structurally survives redemption runs (RE-06: 4); paper works without any network (RE-08: 3). The thin, partly subsidized organization is the weak point (RE-02: 2, RE-07: 2). Weighted 2.8.
Inclusivity4.0
Free to use with zero fees and no minimum (IN-02: 5), identical rules for every participant (IN-05: 5), anonymous paper access alongside light-identity digital accounts (IN-06: 4), and a social-economy mission with no seigniorage extraction (IN-03: 4, IN-04: 4). Geographic restriction to Brussels is the design trade-off (IN-01: 2). Weighted 3.8.