.Brazilian electronic financial institution Nubank has declared the instant suspension of trading for its native cryptocurrency, Nucoin. This officially finishes procedures for the token introduced in March 2023.Nubank informed its own consumers on Tuesday that the investment and purchase of Nucoin would be totally stopped within 15 days. The bank cited possible market volatility as the factor for the abrupt suspension.Conversion alternatives for Nucoin owners.Depending on to the details discussed by the regional news media channel, Nubank is providing a conversion option for consumers holding at the very least 100 Brazilian reais truly worth of Nucoins.These consumers can choose to turn their holdings to either Bitcoin or even USDC. The sale window are going to be open for 90 times, until December 9th." To shield you plus all individuals from prospective dryness on the market value of Nucoins due to possible responses to this upgrade, our experts have decided on to suspend your trading instantly," Nubank explained in an email to its own consumers.The banking company stated that the owners that do not transform their symbols are going to view their Nucoin utilized for the banking company's revamped incentives plan.Nucoin's blockchain explorer attacked half a billion purchases.Nucoin's blockchain explorer has actually attacked half a billion deals due to the fact that its own launch. Nonetheless, in spite of those decent varieties, Nubank has actually created its own selection to relocate off of crypto exchanging.The financial institution mentioned that moving on, Nucoins will certainly be exclusively made use of for redeeming benefits within Nubank's ecosystem. These benefits may feature discounts at the bank's shopping platform and also access to unique brand name encounters.To minimize the effect of the ending, Nubank has introduced a reward campaign for its 16 million Nucoin holders. The advertising consists of 30 month to month rewards of 1,000 Brazilian reais, a month to month prize of 100,000 reais, and also a huge reward of 1 million reais at the project's final thought.Nubank had teamed up with Polygon back in 2022. This was for the launch of Nucoin and also its commitment plan. The standard supervisor of Nucoin specified during that time that Nucoin is actually an additional step in their idea in the potential of blockchain technology.Nubank is among the biggest digital banking platforms, which is actually supported through real estate investors like Warren Buffett's Berkshire Hathaway.