.Brazilian electronic banking company Nubank has actually declared the prompt suspension of trading for its native cryptocurrency, Nucoin. This officially finishes operations for the token released in March 2023.Nubank updated its consumers on Tuesday that the investment as well as purchase of Nucoin would certainly be totally halted within 15 days. The bank mentioned prospective market volatility as the main reason for the abrupt revocation.Conversion options for Nucoin owners.Depending on to the information discussed due to the nearby updates media outlet, Nubank is actually supplying a sale possibility for clients keeping a minimum of one hundred Brazilian reais truly worth of Nucoins.These users can select to turn their holdings to either Bitcoin or even USDC. The transformation window will be open for 90 times, up until December 9th." To guard you and all individuals from prospective dryness in the market worth of Nucoins because of potential responses to this improve, our team have actually selected to suspend your exchanging instantly," Nubank stated in an e-mail to its consumers.The banking company explained that the holders who do not turn their gifts will find their Nucoin used for the bank's spruced up rewards program.Nucoin's blockchain traveler reached half a billion transactions.Nucoin's blockchain explorer has struck half a billion deals since its own launch. However, despite those suitable amounts, Nubank has created its own selection to move away from crypto trading.The financial institution mentioned that proceeding, Nucoins will be actually only used for compensatory benefits within Nubank's environment. These benefits might include price cuts at the bank's purchasing system and also access to unique brand name encounters.To decrease the influence of the ending, Nubank has actually declared a prize campaign for its own 16 million Nucoin owners. The advertising consists of 30 regular monthly prizes of 1,000 Brazilian reais, a month-to-month award of 100,000 reais, and a grand award of 1 thousand reais at the project's verdict.Nubank had actually teamed up with Polygon back in 2022. This was actually for the launch of Nucoin and also its support plan. The general manager of Nucoin explained during that time that Nucoin is yet another action in their view in the possibility of blockchain modern technology.Nubank is just one of the most extensive digital banking systems, which is supported through real estate investors like Warren Buffett's Berkshire Hathaway.