.Brazilian digital bank 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 informed its own clients on Tuesday that the investment and also purchase of Nucoin will be actually entirely stopped within 15 days. The financial institution presented potential market dryness as the explanation for the quick suspension.Conversion alternatives for Nucoin owners.Depending on to the particulars shared by the neighborhood headlines media channel, Nubank is actually delivering a transformation possibility for consumers holding a minimum of 100 Brazilian reais truly worth of Nucoins.These consumers can pick to convert their holdings to either Bitcoin or even USDC. The transformation window are going to be open for 90 times, until December 9th." To safeguard you plus all individuals from prospective dryness out there value of Nucoins because of potential reactions to this update, our company have actually decided on to suspend your investing promptly," Nubank specified in an email to its own clients.The bank specified that the owners who don't convert their tokens will view their Nucoin used for the banking company's overhauled benefits course.Nucoin's blockchain traveler hit half a billion transactions.Nucoin's blockchain explorer has actually struck half a billion transactions given that its launch. Nevertheless, regardless of those respectable varieties, Nubank has actually created its decision to move away from crypto trading.The banking company specified that moving on, Nucoins are going to be actually solely used for compensative perks within Nubank's ecological community. These benefits might include markdowns at the banking company's shopping platform and also accessibility to unique brand experiences.To reduce the impact of the discontinuation, Nubank has actually revealed a prize campaign for its own 16 thousand Nucoin holders. The advertising features 30 monthly awards of 1,000 Brazilian reais, a regular monthly award of 100,000 reais, and a marvelous prize of 1 million reais at the project's final thought.Nubank had teamed up along with Polygon back in 2022. This was for the launch of Nucoin as well as its own devotion program. The overall manager of Nucoin stated during that time that Nucoin is actually another intervene their opinion in the possibility of blockchain innovation.Nubank is one of the most extensive digital banking systems, which is backed through entrepreneurs like Warren Buffett's Berkshire Hathaway.