.Brazilian electronic bank Nubank has declared the quick revocation of investing for its own native cryptocurrency, Nucoin. This formally ends operations for the token introduced in March 2023.Nubank educated its customers on Tuesday that the acquisition and also purchase of Nucoin would be permanently stopped within 15 days. The banking company mentioned possible market dryness as the factor for the unexpected suspension.Sale choices for Nucoin holders.According to the particulars shared due to the regional information media channel, Nubank is using a sale possibility for customers holding at least one hundred Brazilian reais well worth of Nucoins.These customers can easily decide on to transform their holdings to either Bitcoin or even USDC. The transformation window will definitely level for 90 days, up until December 9th." To shield you and all attendees coming from possible dryness available value of Nucoins due to prospective reactions to this update, our team have actually picked to suspend your investing quickly," Nubank specified in an e-mail to its own clients.The financial institution mentioned that the holders who do not change their symbols will definitely view their Nucoin utilized for the bank's revamped incentives plan.Nucoin's blockchain traveler struck half a billion transactions.Nucoin's blockchain traveler has reached half a billion purchases considering that its own launch. However, even with those decent numbers, Nubank has actually created its decision to relocate away from crypto exchanging.The banking company explained that moving forward, Nucoins are going to be actually specifically utilized for compensatory benefits within Nubank's environment. These perks might consist of savings at the financial institution's purchasing system and access to special brand name take ins.To reduce the impact of the discontinuation, Nubank has actually announced a prize advocate its 16 million Nucoin holders. The advertising consists of 30 monthly awards of 1,000 Brazilian reais, a monthly award of 100,000 reais, and also a marvelous reward of 1 million reais at the campaign's verdict.Nubank had actually teamed up with Polygon back in 2022. This was for the launch of Nucoin and its loyalty system. The general manager of Nucoin stated during that time that Nucoin is actually an additional step in their view in the potential of blockchain modern technology.Nubank is one of the most extensive digital financial systems, which is actually backed by clients like Warren Buffett's Berkshire Hathaway.