HARLEM, Manhattan (PIX11) – A Harlem group is launching a new cryptocurrency called “Harlem Coin”.

Harlem Coin will be given to community members who are making things happen in their neighborhood. They can exchange the coins for services and products at certain businesses in Harlem. This is called a “social impact token”.

A company called Silicon Harlem is launching Harlem Coin this fall. It’s a cryptocurrency that only businesses in Harlem will recognize.

Silicon Harlem CEO Clayton Banks says the coin could be the future of what he calls “community currency.”

PIX11 News got an exclusive look at the new coin at the Silicon Harlem headquarters on Frederick Douglass Boulevard. Banks says that for a decade his company has focused on bridging the digital divide in underserved communities in Harlem.

Banks says Harlem Coin’s operation is simple. People earn coins by doing good deeds and participating companies will only redeem them in Harlem.

Banks says local businesses like Harlem Cafe and Common Good have already agreed to accept the new coin.

The Harlem Coin will be officially announced at Silicon Harlem’s annual Next Gen Tech conference on October 21. If you want more information about the new Harlem Coin, visit the Harlem Coin website.