.Brazilian digital bank Nubank has announced the urgent suspension of trading for its native cryptocurrency, Nucoin. This officially finishes operations for the token introduced in March 2023.Nubank informed its own customers on Tuesday that the acquisition as well as purchase of Nucoin would certainly be actually completely stopped within 15 days. The bank cited potential market volatility as the reason for the quick suspension.Conversion possibilities for Nucoin owners.According to the information discussed due to the local area information media channel, Nubank is actually using a sale possibility for customers holding at the very least 100 Brazilian reais truly worth of Nucoins.These individuals can easily choose to convert their holdings to either Bitcoin or even USDC. The transformation window are going to level for 90 days, till December 9th." To secure you plus all participants coming from prospective dryness on the market worth of Nucoins as a result of potential reactions to this upgrade, our company have decided on to suspend your exchanging instantly," Nubank stated in an e-mail to its own customers.The banking company stated that the holders who do not transform their mementos will certainly see their Nucoin made use of for the banking company's overhauled benefits program.Nucoin's blockchain traveler reached half a billion deals.Nucoin's blockchain explorer has actually attacked half a billion transactions considering that its launch. Nonetheless, regardless of those nice varieties, Nubank has actually made its own choice to move out of crypto investing.The financial institution mentioned that proceeding, Nucoins will certainly be exclusively used for compensative benefits within Nubank's ecological community. These benefits might include markdowns at the banking company's purchasing platform as well as accessibility to unique label take ins.To reduce the impact of the discontinuation, Nubank has actually introduced an award campaign for its 16 thousand Nucoin holders. The promotion features 30 regular monthly awards of 1,000 Brazilian reais, a month-to-month prize of 100,000 reais, as well as a huge prize of 1 thousand reais at the initiative's conclusion.Nubank had worked together with Polygon back in 2022. This was for the launch of Nucoin as well as its devotion plan. The basic supervisor of Nucoin mentioned at that time that Nucoin is actually one more intervene their view in the potential of blockchain technology.Nubank is among the most extensive electronic financial platforms, which is backed through clients like Warren Buffett's Berkshire Hathaway.