.Brazilian digital bank Nubank has actually introduced the prompt suspension of trading for its indigenous cryptocurrency, Nucoin. This officially finishes operations for the token introduced in March 2023.Nubank notified its own consumers on Tuesday that the acquisition as well as purchase of Nucoin would certainly be entirely halted within 15 days. The banking company mentioned possible market dryness as the main reason for the quick revocation.Transformation options for Nucoin owners.Depending on to the information discussed due to the local information media outlet, Nubank is supplying a conversion option for consumers holding a minimum of one hundred Brazilian reais worth of Nucoins.These customers may decide on to change their holdings to either Bitcoin or USDC. The conversion window will level for 90 times, until December 9th." To safeguard you and all individuals from potential dryness out there worth of Nucoins as a result of possible reactions to this update, our company have opted for to suspend your trading quickly," Nubank explained in an e-mail to its customers.The banking company stated that the owners that do not transform their symbols will find their Nucoin utilized for the bank's revamped perks system.Nucoin's blockchain traveler reached half a billion deals.Nucoin's blockchain traveler has actually struck half a billion deals because its launch. However, in spite of those respectable numbers, Nubank has actually produced its decision to relocate far from crypto exchanging.The bank explained that progressing, Nucoins will certainly be only made use of for redeeming perks within Nubank's ecological community. These perks might feature discounts at the bank's purchasing platform as well as access to special brand name experiences.To decrease the effect of the discontinuation, Nubank has actually declared a prize campaign for its own 16 million Nucoin holders. The promotion features 30 monthly rewards of 1,000 Brazilian reais, a monthly award of 100,000 reais, as well as a huge reward of 1 million reais at the campaign's verdict.Nubank had collaborated with Polygon back in 2022. This was actually for the launch of Nucoin and also its own support course. The overall supervisor of Nucoin stated during that time that Nucoin is actually an additional come in their belief in the ability of blockchain innovation.Nubank is just one of the most extensive electronic financial platforms, which is actually backed by entrepreneurs like Warren Buffett's Berkshire Hathaway.