.Brazilian electronic banking company Nubank has actually revealed the quick suspension of exchanging for its own native cryptocurrency, Nucoin. This formally finishes functions for the token launched in March 2023.Nubank notified its own clients on Tuesday that the investment and purchase of Nucoin would certainly be actually completely stopped within 15 times. The financial institution pointed out prospective market volatility as the factor for the quick suspension.Conversion choices for Nucoin owners.According to the particulars shared due to the local information media electrical outlet, Nubank is delivering a sale possibility for customers holding a minimum of 100 Brazilian reais worth of Nucoins.These consumers can easily opt for to convert their holdings to either Bitcoin or USDC. The conversion home window are going to level for 90 times, until December 9th." To secure you and all participants from potential volatility on the market worth of Nucoins because of possible responses to this improve, we have actually chosen to suspend your trading right away," Nubank specified in an email to its consumers.The financial institution explained that the owners who don't turn their tokens will definitely observe their Nucoin made use of for the bank's revamped perks system.Nucoin's blockchain explorer struck half a billion deals.Nucoin's blockchain explorer has actually attacked half a billion deals given that its own launch. Having said that, in spite of those respectable numbers, Nubank has actually produced its decision to move far from crypto trading.The banking company stated that moving forward, Nucoins will certainly be actually exclusively made use of for redeeming advantages within Nubank's environment. These benefits might include markdowns at the banking company's buying system and also access to exclusive brand encounters.To lessen the effect of the ending, Nubank has revealed a prize campaign for its 16 million Nucoin owners. The promotion consists of 30 regular monthly awards of 1,000 Brazilian reais, a monthly award of 100,000 reais, and a marvelous reward of 1 thousand reais at the initiative's verdict.Nubank had worked together with Polygon back in 2022. This was actually for the launch of Nucoin and also its commitment course. The standard supervisor of Nucoin explained at that time that Nucoin is one more action in their idea in the capacity of blockchain innovation.Nubank is among the largest digital banking platforms, which is backed through investors like Warren Buffett's Berkshire Hathaway.