.Brazilian digital bank Nubank has declared the urgent revocation of investing for its native cryptocurrency, Nucoin. This formally finishes operations for the token launched in March 2023.Nubank educated its consumers on Tuesday that the investment as well as sale of Nucoin would be entirely stopped within 15 times. The bank mentioned prospective market dryness as the cause for the sudden suspension.Transformation alternatives for Nucoin holders.Depending on to the details discussed by the nearby news media outlet, Nubank is actually using a transformation possibility for clients keeping at least one hundred Brazilian reais worth of Nucoins.These individuals may decide on to turn their holdings to either Bitcoin or USDC. The sale window will level for 90 days, till December 9th." To guard you plus all attendees from possible volatility in the marketplace value of Nucoins as a result of possible reactions to this upgrade, we have actually selected to suspend your trading immediately," Nubank explained in an email to its own customers.The banking company mentioned that the owners who don't transform their symbols are going to find their Nucoin utilized for the financial institution's revamped perks program.Nucoin's blockchain traveler struck half a billion purchases.Nucoin's blockchain traveler has struck half a billion deals considering that its launch. Nonetheless, even with those good amounts, Nubank has actually made its own decision to relocate far from crypto investing.The banking company stated that proceeding, Nucoins are going to be specifically used for redeeming perks within Nubank's ecosystem. These advantages may feature discount rates at the financial institution's buying platform and also accessibility to unique brand name experiences.To minimize the effect of the discontinuation, Nubank has actually announced a prize campaign for its own 16 million Nucoin holders. The promo includes 30 monthly prizes of 1,000 Brazilian reais, a regular monthly award of 100,000 reais, and a marvelous prize of 1 thousand reais at the project's verdict.Nubank had actually worked together with Polygon back in 2022. This was for the launch of Nucoin and its commitment plan. The overall manager of Nucoin explained during that time that Nucoin is actually yet another intervene their belief in the potential of blockchain modern technology.Nubank is just one of the biggest electronic banking platforms, which is supported through investors like Warren Buffett's Berkshire Hathaway.