.Brazilian electronic banking company Nubank has revealed the instant suspension of trading for its own native cryptocurrency, Nucoin. This officially finishes functions for the token released in March 2023.Nubank updated its own customers on Tuesday that the investment and also sale of Nucoin will be actually totally halted within 15 days. The bank mentioned possible market volatility as the cause for the sudden revocation.Conversion alternatives for Nucoin holders.Depending on to the particulars shared due to the regional information media outlet, Nubank is delivering a sale option for customers keeping at the very least one hundred Brazilian reais worth of Nucoins.These customers may opt for to change their holdings to either Bitcoin or USDC. The sale window are going to be open for 90 days, until December 9th." To shield you and all attendees from potential volatility out there worth of Nucoins because of possible responses to this update, our company have actually selected to suspend your investing immediately," Nubank said in an e-mail to its own consumers.The financial institution mentioned that the holders that don't change their gifts are going to view their Nucoin used for the financial institution's spruced up perks program.Nucoin's blockchain explorer attacked half a billion transactions.Nucoin's blockchain traveler has actually attacked half a billion purchases given that its own launch. Nevertheless, in spite of those suitable amounts, Nubank has actually made its own choice to relocate out of crypto trading.The banking company explained that progressing, Nucoins will certainly be actually exclusively made use of for compensative benefits within Nubank's environment. These benefits may consist of discounts at the financial institution's shopping system and accessibility to special company take ins.To reduce the effect of the discontinuation, Nubank has actually revealed a reward campaign for its 16 million Nucoin holders. The advertising consists of 30 regular monthly rewards of 1,000 Brazilian reais, a monthly reward of 100,000 reais, as well as a grand award of 1 thousand reais at the campaign's conclusion.Nubank had actually teamed up along with Polygon back in 2022. This was actually for the launch of Nucoin and its own devotion program. The overall supervisor of Nucoin stated back then that Nucoin is an additional step in their view in the possibility of blockchain technology.Nubank is one of the biggest digital financial platforms, which is actually backed through real estate investors like Warren Buffett's Berkshire Hathaway.