Cryptocurrency Backed by Habanero Peppers Is a Thing in Mexico

Agrocoin is backed by a square meter of pepper production
Amar Hidroponia was seeking ways to lure smaller investors

Freshly picked Habanero chiles sit in a bucket during harvest in Merida, Mexico, on Monday, Feb. 1, 2016. Habanero chile producers in the Yucatan region are moving away from using pesticides and other chemicals in order to comply with international standards for organic foods and increase exports.Photographer: Susana Gonzalez

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By Justin Villamil

March 22, 2018 at 1:01 PM UTC

This article is for subscribers only.

A cryptocurrency called Agrocoin is giving buyers a chance to invest in some of the world’s spiciest peppers.

Mexico’s Amar Hidroponia, which grows only habanero chilis, started selling digital tokens in September as a way to raise capital from smaller investors. Each 500 peso ($27) Agrocoin is backed by a square meter of hydroponic production in Quintana Roo state. The company says it expects to pay a yearly dividend equal to about 30 percent of the cost, depending on output and demand.