.Brazilian electronic banking company Nubank has actually revealed the quick suspension of investing for its own native cryptocurrency, Nucoin. This formally finishes procedures for the token introduced in March 2023.Nubank informed its clients on Tuesday that the investment and sale of Nucoin would be actually completely stopped within 15 days. The financial institution pointed out prospective market dryness as the factor for the abrupt suspension.Conversion choices for Nucoin holders.Depending on to the information shared due to the local news media channel, Nubank is offering a conversion option for customers holding at the very least 100 Brazilian reais really worth of Nucoins.These users can choose to change their holdings to either Bitcoin or USDC. The conversion home window will definitely level for 90 times, up until December 9th." To secure you and all individuals from potential dryness available value of Nucoins due to possible reactions to this upgrade, our company have decided on to suspend your trading instantly," Nubank explained in an email to its clients.The banking company stated that the holders that do not change their mementos will certainly find their Nucoin utilized for the financial institution's revamped rewards program.Nucoin's blockchain traveler struck half a billion purchases.Nucoin's blockchain traveler has actually hit half a billion transactions since its own launch. Nonetheless, in spite of those decent numbers, Nubank has actually produced its own choice to move far from crypto exchanging.The bank mentioned that proceeding, Nucoins will certainly be exclusively made use of for compensatory benefits within Nubank's ecosystem. These benefits may consist of markdowns at the financial institution's buying platform and also accessibility to unique company take ins.To reduce the impact of the discontinuation, Nubank has announced an award campaign for its 16 thousand Nucoin owners. The promotion features 30 month-to-month awards of 1,000 Brazilian reais, a month to month prize of 100,000 reais, and also a huge award of 1 thousand reais at the project's conclusion.Nubank had teamed up with Polygon back in 2022. This was actually for the launch of Nucoin as well as its own commitment course. The basic manager of Nucoin explained at that time that Nucoin is one more come in their opinion in the possibility of blockchain modern technology.Nubank is just one of the biggest digital banking systems, which is backed by financiers like Warren Buffett's Berkshire Hathaway.