.Brazilian digital banking company Nubank has introduced the urgent suspension of investing for its native cryptocurrency, Nucoin. This formally ends procedures for the token released in March 2023.Nubank educated its clients on Tuesday that the purchase as well as sale of Nucoin would be entirely stopped within 15 days. The bank pointed out potential market dryness as the explanation for the abrupt suspension.Conversion possibilities for Nucoin owners.According to the information shared by the regional headlines media electrical outlet, Nubank is offering a sale alternative for consumers having at the very least one hundred Brazilian reais truly worth of Nucoins.These users can easily decide on to transform their holdings to either Bitcoin or even USDC. The conversion home window will definitely be open for 90 days, up until December 9th." To shield you plus all individuals from potential volatility available value of Nucoins because of possible responses to this update, our team have selected to suspend your investing right away," Nubank specified in an email to its own customers.The financial institution specified that the holders that don't transform their gifts are going to view their Nucoin utilized for the financial institution's remodelled incentives plan.Nucoin's blockchain explorer struck half a billion transactions.Nucoin's blockchain explorer has attacked half a billion deals since its own launch. However, even with those decent amounts, Nubank has made its decision to relocate far from crypto trading.The financial institution specified that moving forward, Nucoins will definitely be actually specifically made use of for redeeming perks within Nubank's community. These perks might consist of discounts at the banking company's shopping system and also accessibility to unique brand name experiences.To minimize the influence of the discontinuation, Nubank has actually announced a prize campaign for its own 16 million Nucoin holders. The promo includes 30 month to month awards of 1,000 Brazilian reais, a month to month prize of 100,000 reais, and a marvelous prize of 1 thousand reais at the campaign's conclusion.Nubank had actually teamed up with Polygon back in 2022. This was actually for the launch of Nucoin as well as its own devotion program. The overall manager of Nucoin mentioned at that time that Nucoin is actually another step in their opinion in the capacity of blockchain modern technology.Nubank is just one of the biggest electronic banking platforms, which is actually supported through real estate investors like Warren Buffett's Berkshire Hathaway.