.Brazilian digital banking company Nubank has actually announced the immediate suspension of investing for its indigenous cryptocurrency, Nucoin. This formally ends operations for the token released in March 2023.Nubank informed its customers on Tuesday that the purchase and also sale of Nucoin will be actually entirely stopped within 15 days. The banking company mentioned potential market dryness as the main reason for the quick revocation.Conversion options for Nucoin holders.Depending on to the particulars discussed by the local area information media outlet, Nubank is actually using a transformation choice for customers keeping at the very least 100 Brazilian reais truly worth of Nucoins.These consumers may select to convert their holdings to either Bitcoin or even USDC. The conversion home window will definitely be open for 90 days, till December 9th." To shield you and all individuals coming from possible dryness on the market value of Nucoins due to possible responses to this improve, our experts have opted for to suspend your trading quickly," Nubank specified in an email to its own consumers.The bank explained that the owners that do not change their symbols will observe their Nucoin made use of for the banking company's overhauled benefits course.Nucoin's blockchain explorer attacked half a billion deals.Nucoin's blockchain explorer has hit half a billion transactions due to the fact that its own launch. Having said that, even with those respectable amounts, Nubank has actually created its own decision to relocate out of crypto exchanging.The bank stated that continuing, Nucoins are going to be actually only made use of for compensative benefits within Nubank's ecological community. These advantages may include price cuts at the bank's buying platform and also accessibility to exclusive brand name take ins.To decrease the effect of the discontinuation, Nubank has actually introduced a prize campaign for its own 16 million Nucoin owners. The promo includes 30 month to month awards of 1,000 Brazilian reais, a month-to-month prize of 100,000 reais, and a grand prize of 1 million reais at the project's final thought.Nubank had actually worked together with Polygon back in 2022. This was actually for the launch of Nucoin and its own commitment program. The standard manager of Nucoin said at that time that Nucoin is yet another step in their opinion in the ability of blockchain technology.Nubank is one of the biggest digital banking platforms, which is actually backed by entrepreneurs like Warren Buffett's Berkshire Hathaway.