.Brazilian digital banking company Nubank has actually announced the prompt revocation of investing for its own native cryptocurrency, Nucoin. This officially finishes functions for the token released in March 2023.Nubank informed its clients on Tuesday that the acquisition and purchase of Nucoin will be actually entirely halted within 15 days. The banking company cited prospective market dryness as the factor for the quick suspension.Transformation possibilities for Nucoin holders.Depending on to the information discussed by the regional updates media channel, Nubank is offering a sale possibility for clients keeping at the very least 100 Brazilian reais really worth of Nucoins.These customers may decide on to turn their holdings to either Bitcoin or USDC. The conversion home window will certainly level for 90 days, until December 9th." To safeguard you and all participants coming from possible dryness out there value of Nucoins because of possible reactions to this improve, our experts have actually opted for to suspend your investing quickly," Nubank said in an email to its customers.The financial institution mentioned that the owners who do not change their gifts will certainly view their Nucoin made use of for the banking company's remodelled benefits program.Nucoin's blockchain explorer attacked half a billion purchases.Nucoin's blockchain traveler has reached half a billion deals since its launch. However, even with those suitable amounts, Nubank has actually made its decision to move out of crypto investing.The financial institution specified that moving forward, Nucoins will be actually only made use of for compensatory perks within Nubank's environment. These perks might include discount rates at the financial institution's buying system and also accessibility to exclusive label experiences.To decrease the effect of the discontinuation, Nubank has actually revealed a prize advocate its own 16 million Nucoin holders. The advertising consists of 30 regular monthly rewards of 1,000 Brazilian reais, a monthly prize of 100,000 reais, and also a grand award of 1 thousand reais at the campaign's final thought.Nubank had actually teamed up with Polygon back in 2022. This was for the launch of Nucoin and its loyalty program. The standard manager of Nucoin explained at that time that Nucoin is one more come in their opinion in the capacity of blockchain technology.Nubank is among the most extensive digital banking platforms, which is backed through financiers like Warren Buffett's Berkshire Hathaway.