.Brazilian digital financial institution Nubank has actually introduced the quick suspension of trading for its own indigenous cryptocurrency, Nucoin. This formally ends procedures for the token released in March 2023.Nubank updated its consumers on Tuesday that the investment and also purchase of Nucoin will be actually completely stopped within 15 days. The bank mentioned potential market dryness as the factor for the abrupt revocation.Conversion choices for Nucoin holders.Depending on to the details shared by the regional news media outlet, Nubank is actually supplying a transformation choice for consumers keeping at least 100 Brazilian reais really worth of Nucoins.These customers may select to convert their holdings to either Bitcoin or USDC. The transformation home window will certainly be open for 90 days, up until December 9th." To secure you and all attendees coming from possible dryness out there value of Nucoins as a result of prospective reactions to this update, our experts have decided on to suspend your investing promptly," Nubank mentioned in an e-mail to its own consumers.The bank specified that the owners that don't turn their souvenirs are going to view their Nucoin utilized for the banking company's revamped rewards system.Nucoin's blockchain explorer attacked half a billion deals.Nucoin's blockchain explorer has actually reached half a billion purchases due to the fact that its own launch. Having said that, in spite of those respectable varieties, Nubank has produced its own choice to move away from crypto investing.The bank mentioned that moving on, Nucoins are going to be actually specifically used for compensative advantages within Nubank's environment. These benefits might include savings at the bank's buying system and also accessibility to special company take ins.To minimize the influence of the ending, Nubank has actually announced a reward advocate its own 16 thousand Nucoin holders. The promo consists of 30 monthly awards of 1,000 Brazilian reais, a month to month reward of 100,000 reais, and a grand prize of 1 thousand reais at the campaign's verdict.Nubank had collaborated with Polygon back in 2022. This was actually for the launch of Nucoin as well as its own commitment course. The overall manager of Nucoin specified back then that Nucoin is actually an additional come in their opinion in the potential of blockchain innovation.Nubank is just one of the biggest electronic financial systems, which is backed by capitalists like Warren Buffett's Berkshire Hathaway.