Moxey: The Rising Star of Community-Backed Currency for Small Businesses in Louisiana

Local entrepreneur in Baton Rouge creates barter platform for small business owners

A new form of currency, Moxey, is gaining popularity among small business owners in Louisiana. This community-backed currency operates as a barter system within a network of local businesses. With over 3,000 businesses in the US accepting it as a valid payment method, Moxey provides an alternative way for businesses to keep money within the community and foster relationships among local businesses.

One such business that has embraced Moxey is La Divina Italian Cafe in Baton Rouge. Owner Lance Leblanc joined the Moxey network in 2015, just a year after opening his cafe. Today, over a decade later, Leblanc credits incorporating Moxey into his business as one of his smartest decisions. By accepting Moxey payments, he has attracted customers who may not have discovered his cafe otherwise.

The versatility of Moxey is demonstrated through its easy use through the app or website to locate businesses that accept it as a form of payment. This system helps businesses attract new customers and support the local economy by using it for various services from dining out to car maintenance.

Moxey is only available for small businesses, and transactions are taxable through the IRS with the necessary 1099-B form. This innovative approach to commerce benefits not only small business owners but also creates a sense of community and support among local businesses.

As more small businesses join the Moxey network, it’s clear that this new form of currency will continue to grow in popularity and become an essential part of Louisiana’s local economy.

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