A 'groundbreaking' new initiative has seen the launch of the world's first Christian cryptocurrency. 'Christ Coin', from the mission company Life Change, seeks to unite the church with its own currency, akin to Bitcoin, that offers financial rewards for the faithful.

A Cryptocurrency is a digital token-based currency that operates independently of a bank or government control. It offers a new way for parties to transfer funds, using encryption techniques to guarantee security.

'Christ Coin allows the faithful to have a way to approach finances that uniquely helps grow and support the global Christian church,' Life Change said in a press release, according to RNS.

'Instead of dollars, consumers purchase or earn "coins," which can be used for purchasing or exchanged just like any other currency.' Christ Coin is envisaged as a means for the church to expand its reach in ministry.

Life Change has promised financial rewards (more 'coins') for those who undertake Christian activities via the platform such as volunteering, joining small groups and reading the Bible. 

'The overarching benefits of the Life Change Platform truly go beyond what people would typically think when talking about finance and economics,' said Luke Forstmann, Christ Coin's co-founder.

'We like to use the L.I.V.E.S. acronym: Leave your mark on the world by supporting humanitarian efforts, Invest in a cryptocurrency, Vault your spiritual life, Earn additional income, Support the vision of your local church through tithes and offerings.

'Yes, Christ Coin is an investment opportunity, but it goes so much farther than personal finance. We hope it will change lives, support ministries, and inspire people to grow in their faith.'

A 'coin sale', offering the chance to invest in the currency, will run until December 1 at 7:00am CT.

A video explanation of Christ Coin can be watched below.