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by
Wayne Jones
on
December 30, 2020 Regulation
Lebrija city, municipality of Spain located in Andalusia’s autonomous community, has introduced a cryptocurrency named Elio pegged with Euro. The move will support local transactions among residents and merchants.
A Fruitful Adoption of Elio
In Madrid,
Europa Press, a news agency, said Elio cryptocurrency would empower the City Council of Lebrija to dispatch economic aid to 593 selected beneficiaries. The move will take into consideration the monthly income and number of kids, with recipients getting support between 50 to 200 euros for local consumption. The City Council has also announced an economic aid of 393 to 400 Euros worth of Elio to locals under the Municipal Reactive Plan.