.Brazilian electronic bank Nubank has actually declared the instant suspension of trading for its own native cryptocurrency, Nucoin. This officially ends functions for the token released in March 2023.Nubank educated its own consumers on Tuesday that the investment and also sale of Nucoin would certainly be entirely stopped within 15 times. The bank cited potential market volatility as the cause for the quick suspension.Sale choices for Nucoin holders.Depending on to the information discussed due to the regional news media channel, Nubank is delivering a sale choice for customers keeping at least one hundred Brazilian reais worth of Nucoins.These consumers may decide on to transform their holdings to either Bitcoin or even USDC. The sale window will certainly be open for 90 times, till December 9th." To shield you plus all participants coming from potential volatility on the market worth of Nucoins as a result of prospective responses to this update, our company have opted for to suspend your investing promptly," Nubank stated in an e-mail to its clients.The financial institution explained that the owners who do not turn their souvenirs will definitely see their Nucoin used for the bank's revamped perks program.Nucoin's blockchain explorer attacked half a billion purchases.Nucoin's blockchain traveler has actually reached half a billion transactions considering that its launch. Nonetheless, regardless of those respectable amounts, Nubank has actually produced its decision to move away from crypto trading.The banking company explained that moving forward, Nucoins will certainly be exclusively used for compensative advantages within Nubank's ecosystem. These advantages might consist of rebates at the bank's purchasing system and access to exclusive brand take ins.To minimize the influence of the discontinuation, Nubank has actually introduced an award campaign for its own 16 thousand Nucoin owners. The promo consists of 30 monthly rewards of 1,000 Brazilian reais, a monthly prize of 100,000 reais, as well as a grand reward of 1 million reais at the initiative's verdict.Nubank had actually worked together along with Polygon back in 2022. This was actually for the launch of Nucoin as well as its own commitment system. The overall supervisor of Nucoin explained back then that Nucoin is another intervene their opinion in the potential of blockchain modern technology.Nubank is one of the biggest digital financial systems, which is actually backed through financiers like Warren Buffett's Berkshire Hathaway.