.Brazilian digital banking company Nubank has announced the immediate revocation of investing for its native cryptocurrency, Nucoin. This officially ends functions for the token introduced in March 2023.Nubank updated its customers on Tuesday that the investment and also sale of Nucoin would certainly be completely halted within 15 days. The banking company mentioned prospective market dryness as the explanation for the abrupt suspension.Conversion choices for Nucoin holders.Depending on to the information discussed due to the local news media electrical outlet, Nubank is using a conversion choice for customers holding at the very least one hundred Brazilian reais really worth of Nucoins.These customers can choose to turn their holdings to either Bitcoin or USDC. The sale window are going to be open for 90 days, till December 9th." To safeguard you plus all participants from prospective volatility in the marketplace worth of Nucoins because of prospective responses to this update, our experts have actually decided on to suspend your investing quickly," Nubank explained in an email to its own customers.The banking company explained that the owners that do not transform their tokens will definitely see their Nucoin utilized for the bank's spruced up rewards program.Nucoin's blockchain explorer hit half a billion purchases.Nucoin's blockchain explorer has actually struck half a billion purchases since its own launch. Nevertheless, regardless of those decent amounts, Nubank has produced its own decision to move away from crypto trading.The bank explained that moving forward, Nucoins are going to be solely used for compensative benefits within Nubank's environment. These advantages may include discount rates at the bank's shopping system and also access to special brand encounters.To lessen the influence of the ending, Nubank has actually revealed a reward campaign for its own 16 million Nucoin holders. The promotion consists of 30 month-to-month prizes of 1,000 Brazilian reais, a month-to-month reward of 100,000 reais, and also a grand award of 1 thousand reais at the project's verdict.Nubank had actually teamed up with Polygon back in 2022. This was for the launch of Nucoin and also its devotion plan. The general manager of Nucoin said during that time that Nucoin is actually yet another come in their view in the ability of blockchain technology.Nubank is one of the most extensive digital financial systems, which is actually backed by capitalists like Warren Buffett's Berkshire Hathaway.