.Brazilian digital banking company Nubank has actually announced the prompt revocation of exchanging for its native cryptocurrency, Nucoin. This formally finishes functions for the token introduced in March 2023.Nubank updated its customers on Tuesday that the investment as well as sale of Nucoin will be actually completely halted within 15 days. The financial institution presented prospective market dryness as the reason for the unexpected suspension.Conversion options for Nucoin holders.Depending on to the particulars discussed by the nearby information media channel, Nubank is actually supplying a conversion choice for consumers holding at least one hundred Brazilian reais worth of Nucoins.These customers may pick to transform their holdings to either Bitcoin or USDC. The sale window will certainly level for 90 days, till December 9th." To guard you plus all individuals from potential dryness in the market worth of Nucoins due to possible responses to this upgrade, our experts have actually decided on to suspend your investing immediately," Nubank explained in an email to its consumers.The financial institution explained that the owners that don't transform their gifts are going to view their Nucoin used for the bank's revamped rewards plan.Nucoin's blockchain traveler reached half a billion deals.Nucoin's blockchain explorer has reached half a billion transactions because its launch. Nonetheless, despite those suitable varieties, Nubank has made its own choice to move out of crypto exchanging.The banking company explained that moving on, Nucoins are going to be only used for compensatory perks within Nubank's community. These benefits may include savings at the banking company's shopping platform as well as accessibility to exclusive brand name take ins.To reduce the effect of the discontinuation, Nubank has actually introduced an award campaign for its 16 thousand Nucoin owners. The promotion includes 30 month-to-month rewards of 1,000 Brazilian reais, a monthly reward of 100,000 reais, as well as a grand reward of 1 thousand reais at the campaign's final thought.Nubank had teamed up with Polygon back in 2022. This was for the launch of Nucoin and its own commitment system. The basic manager of Nucoin said back then that Nucoin is actually an additional action in their view in the ability of blockchain technology.Nubank is just one of the largest digital banking systems, which is actually supported through clients like Warren Buffett's Berkshire Hathaway.