.Brazilian electronic banking company Nubank has actually announced the immediate suspension of trading for its own indigenous cryptocurrency, Nucoin. This officially finishes procedures for the token introduced in March 2023.Nubank notified its own customers on Tuesday that the purchase as well as purchase of Nucoin would be entirely stopped within 15 days. The financial institution presented prospective market volatility as the main reason for the unexpected revocation.Sale alternatives for Nucoin holders.Depending on to the information shared due to the regional updates media channel, Nubank is supplying a sale choice for consumers keeping at least 100 Brazilian reais truly worth of Nucoins.These individuals can pick to turn their holdings to either Bitcoin or USDC. The sale home window will be open for 90 days, up until December 9th." To shield you plus all participants from prospective volatility in the marketplace value of Nucoins as a result of possible reactions to this update, our experts have selected to suspend your trading quickly," Nubank explained in an e-mail to its own consumers.The banking company explained that the owners that don't transform their souvenirs are going to observe their Nucoin made use of for the financial institution's remodelled benefits plan.Nucoin's blockchain traveler hit half a billion transactions.Nucoin's blockchain explorer has attacked half a billion purchases since its own launch. Having said that, even with those respectable varieties, Nubank has actually made its decision to move off of crypto trading.The financial institution mentioned that moving forward, Nucoins will be specifically utilized for compensative benefits within Nubank's environment. These advantages might include markdowns at the financial institution's purchasing platform and access to exclusive company encounters.To lessen the effect of the ending, Nubank has introduced an award campaign for its own 16 million Nucoin owners. The advertising features 30 monthly awards of 1,000 Brazilian reais, a month-to-month award of 100,000 reais, and also a grand award of 1 thousand 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 support plan. The standard supervisor of Nucoin specified during that time that Nucoin is actually one more come in their opinion in the possibility of blockchain innovation.Nubank is among the largest electronic banking systems, which is actually backed by real estate investors like Warren Buffett's Berkshire Hathaway.