Brazilian coffee cooperative to launch a coffee-backed cryptocurrency

One of the largest Brazilian arabica bean cooperatives is brewing up a cryptocurrency of its own.

Minasul is planning to issue a coffee supplies-backed cryptocurrency, Bloomberg writes. Farmers will be able to use the token in Minasul’s online store to purchase farming products like fertilizer and machinery as well as other products like cars and food, Minasul’s president Jose Marcos Magalhaes explained in an interview during the Global Coffee Forum.

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