.Brazilian digital banking company Nubank has announced the urgent revocation of exchanging for its native cryptocurrency, Nucoin. This formally ends procedures for the token launched in March 2023.Nubank informed its consumers on Tuesday that the acquisition as well as purchase of Nucoin will be permanently halted within 15 days. The banking company pointed out potential market dryness as the explanation for the quick suspension.Sale options for Nucoin holders.According to the information shared by the local area news media channel, Nubank is actually using a conversion choice for customers keeping at least one hundred Brazilian reais truly worth of Nucoins.These individuals may choose to change their holdings to either Bitcoin or even USDC. The conversion window are going to be open for 90 days, until December 9th." To defend you and all attendees coming from potential dryness in the marketplace worth of Nucoins because of prospective reactions to this upgrade, we have actually chosen to suspend your trading promptly," Nubank mentioned in an email to its own consumers.The financial institution mentioned that the holders who do not convert their tokens will definitely find their Nucoin made use of for the banking company's overhauled incentives system.Nucoin's blockchain explorer hit half a billion transactions.Nucoin's blockchain explorer has actually attacked half a billion transactions since its launch. Having said that, despite those nice amounts, Nubank has created its decision to move far from crypto trading.The bank mentioned that moving on, Nucoins will certainly be specifically utilized for compensative benefits within Nubank's community. These benefits might include savings at the banking company's purchasing platform and access to unique brand name experiences.To minimize the influence of the ending, Nubank has announced a prize advocate its 16 thousand Nucoin holders. The advertising features 30 monthly prizes of 1,000 Brazilian reais, a regular monthly reward of 100,000 reais, as well as a splendid award of 1 million reais at the initiative's final thought.Nubank had actually collaborated with Polygon back in 2022. This was actually for the launch of Nucoin and its devotion system. The standard manager of Nucoin explained during that time that Nucoin is another action in their view in the capacity of blockchain modern technology.Nubank is among the biggest digital financial systems, which is actually backed by investors like Warren Buffett's Berkshire Hathaway.