.Brazilian digital banking company Nubank has actually introduced the instant suspension of exchanging for its own indigenous cryptocurrency, Nucoin. This formally finishes functions for the token introduced in March 2023.Nubank educated its clients on Tuesday that the purchase and also sale of Nucoin would be actually completely stopped within 15 days. The financial institution mentioned potential market volatility as the cause for the sudden revocation.Conversion options for Nucoin holders.According to the information discussed due to the regional updates media channel, Nubank is giving a transformation alternative for consumers having a minimum of 100 Brazilian reais truly worth of Nucoins.These users may pick to convert their holdings to either Bitcoin or USDC. The sale window will level for 90 times, till December 9th." To secure you and all individuals coming from potential volatility in the market value of Nucoins because of prospective reactions to this update, we have opted for to suspend your trading promptly," Nubank explained in an email to its customers.The financial institution explained that the owners that don't change their mementos will view their Nucoin used for the financial institution's overhauled incentives program.Nucoin's blockchain traveler hit half a billion deals.Nucoin's blockchain explorer has struck half a billion transactions given that its own launch. Having said that, in spite of those good amounts, Nubank has actually made its decision to move far from crypto investing.The financial institution mentioned that moving on, Nucoins are going to be specifically used for compensative perks within Nubank's ecosystem. These benefits might include savings at the bank's purchasing system and access to special company encounters.To reduce the effect of the discontinuation, Nubank has actually introduced a reward advocate its own 16 thousand Nucoin owners. The promo features 30 monthly awards of 1,000 Brazilian reais, a regular monthly reward of 100,000 reais, as well as a grand prize of 1 million reais at the project's final thought.Nubank had worked together along with Polygon back in 2022. This was actually for the launch of Nucoin and also its own loyalty system. The overall supervisor of Nucoin specified back then that Nucoin is actually an additional action in their belief in the possibility of blockchain innovation.Nubank is just one of the most extensive digital banking systems, which is actually backed through capitalists like Warren Buffett's Berkshire Hathaway.