.Brazilian digital banking company Nubank has actually declared the quick revocation of trading for its native cryptocurrency, Nucoin. This officially finishes functions for the token introduced in March 2023.Nubank informed its own consumers on Tuesday that the investment and purchase of Nucoin would be totally stopped within 15 days. The bank mentioned possible market volatility as the explanation for the abrupt suspension.Conversion alternatives for Nucoin owners.According to the details shared due to the neighborhood headlines media electrical outlet, Nubank is actually offering a conversion alternative for clients keeping at the very least one hundred Brazilian reais worth of Nucoins.These individuals can decide on to turn their holdings to either Bitcoin or USDC. The transformation window will definitely be open for 90 days, up until December 9th." To shield you plus all participants coming from prospective dryness in the marketplace value of Nucoins because of potential responses to this update, our company have opted for to suspend your trading immediately," Nubank stated in an email to its own consumers.The financial institution stated that the owners that don't change their symbols will definitely observe their Nucoin utilized for the bank's overhauled perks system.Nucoin's blockchain explorer attacked half a billion transactions.Nucoin's blockchain traveler has struck half a billion transactions given that its own launch. However, even with those suitable numbers, Nubank has actually made its own decision to relocate off of crypto investing.The banking company specified that proceeding, Nucoins are going to be exclusively used for compensatory advantages within Nubank's environment. These advantages might consist of savings at the banking company's shopping system and also accessibility to exclusive brand name encounters.To minimize the effect of the ending, Nubank has declared a prize campaign for its own 16 thousand Nucoin holders. The advertising includes 30 month-to-month rewards of 1,000 Brazilian reais, a regular monthly award of 100,000 reais, as well as a grand prize of 1 thousand reais at the initiative's final thought.Nubank had teamed up along with Polygon back in 2022. This was for the launch of Nucoin and also its own support program. The standard supervisor of Nucoin said back then that Nucoin is actually one more come in their view in the ability of blockchain modern technology.Nubank is just one of the biggest electronic banking platforms, which is supported through entrepreneurs like Warren Buffett's Berkshire Hathaway.