Step 1 In a small pan, bring the cream to a simmer over high heat. Place the chocolate in a medium bowl and pour the hot cream over it. Let the mixture stand until the chocolate softens, about 5 minutes, then whisk until smooth.
Step 2 Whisk in the chili powders. Let the mixture stand until completely cooled, about half an hour. With an electric mixer at medium speed, beat in the butter, one tablespoon at a time, until smooth. Do not overbeat. Cover with plastic wrap and keep at room temperature until ready to use.