.Brazilian electronic banking company Nubank has revealed the immediate revocation of investing for its own indigenous cryptocurrency, Nucoin. This formally ends functions for the token released in March 2023.Nubank updated its customers on Tuesday that the acquisition and also sale of Nucoin would be actually permanently stopped within 15 times. The bank pointed out prospective market volatility as the explanation for the unexpected revocation.Sale options for Nucoin holders.According to the details discussed due to the nearby information media channel, Nubank is actually giving a transformation alternative for customers keeping a minimum of one hundred Brazilian reais truly worth of Nucoins.These users may pick to transform their holdings to either Bitcoin or even USDC. The conversion home window will level for 90 days, until December 9th." To guard you plus all participants coming from possible volatility in the market value of Nucoins due to possible reactions to this improve, our company have decided on to suspend your trading instantly," Nubank stated in an e-mail to its consumers.The financial institution specified that the holders that don't change their symbols are going to see their Nucoin utilized for the banking company's revamped rewards system.Nucoin's blockchain traveler struck half a billion transactions.Nucoin's blockchain explorer has hit half a billion purchases since its own launch. Nonetheless, regardless of those good amounts, Nubank has actually produced its selection to relocate off of crypto exchanging.The bank specified that proceeding, Nucoins are going to be solely utilized for redeeming perks within Nubank's ecosystem. These benefits might consist of discount rates at the banking company's buying system as well as access to special label experiences.To reduce the impact of the ending, Nubank has actually revealed a reward advocate its own 16 million Nucoin owners. The promotion features 30 regular monthly prizes of 1,000 Brazilian reais, a monthly prize of 100,000 reais, and also a huge reward of 1 thousand reais at the campaign's conclusion.Nubank had teamed up along with Polygon back in 2022. This was actually for the launch of Nucoin and also its own loyalty program. The general manager of Nucoin stated during that time that Nucoin is actually one more step in their idea in the ability of blockchain modern technology.Nubank is just one of the largest digital banking platforms, which is actually backed by investors like Warren Buffett's Berkshire Hathaway.