.Brazilian electronic bank Nubank has declared the immediate revocation of trading for its own native cryptocurrency, Nucoin. This officially finishes procedures for the token released in March 2023.Nubank notified its customers on Tuesday that the investment as well as purchase of Nucoin would certainly be actually completely stopped within 15 times. The bank cited possible market dryness as the cause for the sudden suspension.Transformation choices for Nucoin holders.According to the information discussed by the local area headlines media electrical outlet, Nubank is actually delivering a conversion possibility for clients having at least one hundred Brazilian reais really worth of Nucoins.These consumers can easily select to convert their holdings to either Bitcoin or even USDC. The sale window will certainly be open for 90 times, up until December 9th." To protect you and all attendees from possible dryness in the market worth of Nucoins due to potential reactions to this upgrade, our experts have actually opted for to suspend your trading immediately," Nubank mentioned in an email to its clients.The financial institution stated that the holders that do not convert their mementos will see their Nucoin used for the financial institution's revamped perks program.Nucoin's blockchain traveler reached half a billion purchases.Nucoin's blockchain traveler has struck half a billion transactions because its launch. Nevertheless, even with those respectable amounts, Nubank has created its own choice to relocate away from crypto exchanging.The bank stated that moving on, Nucoins will definitely be actually specifically used for compensatory perks within Nubank's environment. These advantages might consist of price cuts at the banking company's purchasing platform as well as accessibility to unique brand experiences.To lessen the effect of the discontinuation, Nubank has declared an award campaign for its own 16 million Nucoin owners. The advertising features 30 month-to-month awards of 1,000 Brazilian reais, a monthly award of 100,000 reais, and also a huge award of 1 million reais at the campaign's conclusion.Nubank had actually worked together along with Polygon back in 2022. This was for the launch of Nucoin as well as its support system. The standard manager of Nucoin mentioned back then that Nucoin is yet another come in their belief in the capacity of blockchain modern technology.Nubank is just one of the most extensive electronic banking systems, which is supported through entrepreneurs like Warren Buffett's Berkshire Hathaway.