.Brazilian electronic banking company Nubank has actually announced the instant revocation of trading for its indigenous cryptocurrency, Nucoin. This formally ends procedures for the token introduced in March 2023.Nubank updated its customers on Tuesday that the purchase and also sale of Nucoin will be actually permanently stopped within 15 days. The bank cited prospective market dryness as the reason for the unexpected suspension.Sale options for Nucoin owners.According to the details shared by the local information media outlet, Nubank is providing a conversion option for customers holding at the very least 100 Brazilian reais well worth of Nucoins.These customers can opt for to convert their holdings to either Bitcoin or USDC. The transformation home window will certainly level for 90 times, until December 9th." To safeguard you plus all participants coming from prospective volatility in the marketplace value of Nucoins due to possible responses to this update, our team have opted for to suspend your exchanging instantly," Nubank said in an e-mail to its own clients.The banking company mentioned that the holders that do not change their symbols are going to find their Nucoin utilized for the bank's remodelled rewards system.Nucoin's blockchain explorer reached half a billion transactions.Nucoin's blockchain explorer has actually hit half a billion deals since its launch. Nonetheless, in spite of those decent varieties, Nubank has actually created its choice to relocate away from crypto trading.The bank stated that moving on, Nucoins will definitely be actually exclusively used for compensative benefits within Nubank's ecosystem. These advantages may feature price cuts at the bank's buying system and accessibility to exclusive company encounters.To decrease the effect of the ending, Nubank has declared a prize campaign for its 16 thousand Nucoin holders. The promo features 30 regular monthly prizes of 1,000 Brazilian reais, a monthly prize of 100,000 reais, as well as a marvelous award of 1 million reais at the project's conclusion.Nubank had actually collaborated along with Polygon back in 2022. This was actually for the launch of Nucoin as well as its own commitment plan. The overall supervisor of Nucoin stated at that time that Nucoin is actually an additional action in their belief in the ability of blockchain innovation.Nubank is among the most extensive digital banking platforms, which is supported through investors like Warren Buffett's Berkshire Hathaway.