.Brazilian electronic financial institution Nubank has declared the urgent suspension of investing for its indigenous cryptocurrency, Nucoin. This officially finishes procedures for the token introduced in March 2023.Nubank educated its own consumers on Tuesday that the acquisition and also sale of Nucoin would certainly be permanently halted within 15 times. The bank pointed out potential market dryness as the cause for the quick suspension.Conversion choices for Nucoin owners.According to the information discussed by the local area information media electrical outlet, Nubank is actually giving a sale alternative for clients having a minimum of one hundred Brazilian reais well worth of Nucoins.These individuals can easily decide on to convert their holdings to either Bitcoin or even USDC. The transformation home window will definitely be open for 90 days, till December 9th." To secure you and all individuals coming from potential dryness out there worth of Nucoins due to possible responses to this upgrade, our experts have actually opted for to suspend your trading immediately," Nubank explained in an email to its own clients.The bank stated that the holders that don't turn their symbols will definitely view their Nucoin made use of for the banking company's renewed rewards system.Nucoin's blockchain explorer hit half a billion purchases.Nucoin's blockchain explorer has reached half a billion transactions since its launch. Nevertheless, regardless of those nice amounts, Nubank has actually produced its choice to relocate away from crypto trading.The banking company said that progressing, Nucoins are going to be actually specifically made use of for redeeming advantages within Nubank's ecological community. These perks might include markdowns at the bank's purchasing system and accessibility to special brand take ins.To lessen the effect of the ending, Nubank has introduced a reward campaign for its own 16 million Nucoin owners. The promotion consists of 30 regular monthly rewards of 1,000 Brazilian reais, a month-to-month award of 100,000 reais, and a huge reward of 1 thousand reais at the campaign's conclusion.Nubank had teamed up with Polygon back in 2022. This was actually for the launch of Nucoin and its own loyalty program. The general manager of Nucoin said back then that Nucoin is actually an additional come in their belief in the possibility of blockchain technology.Nubank is one of the biggest digital financial systems, which is backed through investors like Warren Buffett's Berkshire Hathaway.