.Brazilian electronic banking company Nubank has actually introduced the instant revocation of exchanging for its own indigenous cryptocurrency, Nucoin. This officially ends functions for the token launched in March 2023.Nubank updated its consumers on Tuesday that the acquisition and also purchase of Nucoin would certainly be actually totally stopped within 15 times. The bank mentioned potential market volatility as the reason for the quick suspension.Conversion possibilities for Nucoin owners.Depending on to the information discussed by the regional updates media electrical outlet, Nubank is actually delivering a sale option for consumers keeping at least 100 Brazilian reais well worth of Nucoins.These customers can choose to turn their holdings to either Bitcoin or even USDC. The sale home window are going to be open for 90 days, up until December 9th." To secure you and all individuals coming from possible dryness in the market worth of Nucoins because of possible responses to this upgrade, our team have actually decided on to suspend your trading promptly," Nubank stated in an e-mail to its own consumers.The financial institution mentioned that the holders that do not change their gifts will definitely observe their Nucoin utilized for the banking company's spruced up benefits plan.Nucoin's blockchain explorer hit half a billion purchases.Nucoin's blockchain explorer has actually hit half a billion purchases given that its launch. Nonetheless, regardless of those respectable amounts, Nubank has made its own choice to relocate far from crypto trading.The banking company mentioned that progressing, Nucoins will be actually specifically used for redeeming perks within Nubank's ecosystem. These advantages might feature savings at the banking company's purchasing system and also accessibility to special label encounters.To decrease the influence of the ending, Nubank has revealed a prize campaign for its own 16 thousand Nucoin owners. The advertising features 30 month to month awards of 1,000 Brazilian reais, a month-to-month reward of 100,000 reais, as well as a grand reward of 1 million reais at the project's verdict.Nubank had worked together with Polygon back in 2022. This was for the launch of Nucoin and also its own devotion system. The overall manager of Nucoin specified back then that Nucoin is yet another step in their belief in the ability of blockchain modern technology.Nubank is just one of the most extensive digital banking platforms, which is actually backed through investors like Warren Buffett's Berkshire Hathaway.