currency

Swiss WIR Franc

2 maj

The Swiss WIR Franc (Wirtschaftsring) is a complementary currency, founded in 1934 (!) because of currency shortages and global financial instability.

Swiss WIR Franc

It is believed to be the longest surviving social or community currency, sometimes called a complementary currency. It is being used by around 20% of Switzerland's small and medium-sized enterprises.


WIR franc is an electronic currency reflected in clients' trade accounts. There is no paper money. The intentions of starting it in mid 30-ties were: increased sales, cash flow and profits for a qualified participant. WIR Bank from Switzerland issuses WIR franc. WIR Bank was founded in 1934 by businessmen and as a result of currency shortages and global financial instability. A banking license was granted in 1936.


"WIR" is both an abbreviation of Wirtschaftsring and the word for "we" in German, reminding participants that the economic circle is also a community.


The Swiss WIR ("We" in German) is the longest surviving social or community currency, sometimes called a complementary currency.

Great 'niche' story that had started 90 years ago.


Source: https://patternsofcommoning.org/wir-currency-reinventing-social-exchange/

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