Brazilian Coffee Farming Cooperative to Issue a Coffee-Backed Token

11 Jul 2019

Brazilian Coffee Farming Cooperative to Issue a Coffee-Backed Token

Brazilian coffee farming cooperative Minasul plans to issue a coffee-backed token, Bloomberg reported on July 11.

According to Bloomberg, Minasul’s president Jose Marcos Magalhaes declared at the Global Coffee Forum in Campinas that Minasul intends to launch the token this month. Farmers will reportedly be able to use the coin to buy fertilizer, machinery and other non-farm products — including cars and food — in a digital marketplace.

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