.Brazilian electronic financial institution Nubank has announced the quick revocation of investing for its own indigenous cryptocurrency, Nucoin. This officially finishes procedures for the token released in March 2023.Nubank informed its own consumers on Tuesday that the acquisition and also purchase of Nucoin would certainly be permanently halted within 15 days. The banking company mentioned potential market dryness as the main reason for the quick revocation.Transformation possibilities for Nucoin owners.According to the information discussed due to the nearby news media outlet, Nubank is giving a conversion option for clients keeping a minimum of 100 Brazilian reais worth of Nucoins.These users can select to transform their holdings to either Bitcoin or even USDC. The transformation window will definitely level for 90 days, up until December 9th." To shield you plus all attendees from potential volatility available worth of Nucoins due to possible reactions to this improve, we have opted for to suspend your trading promptly," Nubank said in an email to its customers.The bank specified that the holders who do not convert their tokens will certainly see their Nucoin used for the banking company's overhauled benefits program.Nucoin's blockchain traveler attacked half a billion purchases.Nucoin's blockchain traveler has actually struck half a billion deals due to the fact that its launch. Nonetheless, despite those nice amounts, Nubank has made its choice to move out of crypto exchanging.The bank specified that progressing, Nucoins will certainly be only utilized for compensative advantages within Nubank's community. These benefits may consist of rebates at the banking company's buying platform and also access to unique brand name take ins.To decrease the effect of the ending, Nubank has actually declared a reward campaign for its own 16 million Nucoin holders. The promo consists of 30 month-to-month rewards of 1,000 Brazilian reais, a month to month prize of 100,000 reais, and a huge reward of 1 million reais at the campaign's final thought.Nubank had actually teamed up with Polygon back in 2022. This was actually for the launch of Nucoin and its commitment program. The general supervisor of Nucoin specified at that time that Nucoin is one more action in their idea in the possibility of blockchain modern technology.Nubank is among the biggest electronic financial platforms, which is actually supported by investors like Warren Buffett's Berkshire Hathaway.