.Brazilian digital banking company Nubank has actually revealed the quick suspension of trading for its own indigenous cryptocurrency, Nucoin. This officially ends functions for the token launched in March 2023.Nubank educated its own consumers on Tuesday that the purchase and also purchase of Nucoin would certainly be actually permanently stopped within 15 days. The banking company cited prospective market volatility as the explanation for the unexpected revocation.Conversion choices for Nucoin owners.According to the information discussed due to the local information media channel, Nubank is actually giving a transformation option for customers having at least 100 Brazilian reais worth of Nucoins.These individuals can select to convert their holdings to either Bitcoin or USDC. The sale home window will certainly be open for 90 days, until December 9th." To shield you plus all participants from potential volatility on the market value of Nucoins as a result of possible reactions to this upgrade, our company have actually decided on to suspend your trading quickly," Nubank explained in an email to its own customers.The bank specified that the owners who don't turn their tokens are going to view their Nucoin used for the bank's spruced up perks plan.Nucoin's blockchain traveler hit half a billion purchases.Nucoin's blockchain traveler has actually struck half a billion deals due to the fact that its launch. Nonetheless, in spite of those decent numbers, Nubank has created its own choice to relocate away from crypto exchanging.The bank specified that moving forward, Nucoins will definitely be only made use of for compensative benefits within Nubank's community. These perks might feature savings at the banking company's purchasing system as well as access to exclusive brand take ins.To decrease the influence of the ending, Nubank has actually revealed a reward campaign for its 16 million Nucoin owners. The promotion features 30 regular monthly prizes of 1,000 Brazilian reais, a month to month award of 100,000 reais, and a huge prize of 1 million reais at the campaign's final thought.Nubank had teamed up with Polygon back in 2022. This was actually for the launch of Nucoin as well as its support system. The standard supervisor of Nucoin specified at that time that Nucoin is actually yet another intervene their belief in the capacity of blockchain technology.Nubank is one of the most extensive electronic financial platforms, which is actually supported by clients like Warren Buffett's Berkshire Hathaway.