.Brazilian electronic bank Nubank has actually declared the prompt suspension of trading for its own native cryptocurrency, Nucoin. This officially ends procedures for the token released in March 2023.Nubank notified its consumers on Tuesday that the purchase and also sale of Nucoin would be actually entirely stopped within 15 days. The banking company cited potential market dryness as the explanation for the sudden suspension.Sale alternatives for Nucoin holders.Depending on to the information discussed by the regional headlines media outlet, Nubank is supplying a transformation choice for customers having at the very least one hundred Brazilian reais truly worth of Nucoins.These customers may decide on to transform their holdings to either Bitcoin or even USDC. The sale window will level for 90 days, up until December 9th." To safeguard you and all participants from prospective volatility out there worth of Nucoins because of possible responses to this update, our team have actually chosen to suspend your exchanging promptly," Nubank explained in an email to its customers.The financial institution specified that the holders that do not convert their symbols will definitely find their Nucoin utilized for the financial institution's remodelled perks system.Nucoin's blockchain explorer hit half a billion transactions.Nucoin's blockchain traveler has actually hit half a billion purchases given that its own launch. Nonetheless, despite those nice varieties, Nubank has created its decision to relocate out of crypto trading.The financial institution mentioned that continuing, Nucoins are going to be exclusively used for compensative advantages within Nubank's ecosystem. These perks may include rebates at the banking company's buying platform and also accessibility to unique company encounters.To minimize the effect of the ending, Nubank has actually revealed a reward advocate its 16 thousand Nucoin holders. The advertising consists of 30 month to month prizes of 1,000 Brazilian reais, a regular monthly award of 100,000 reais, and a grand award of 1 thousand reais at the campaign's final thought.Nubank had teamed up with Polygon back in 2022. This was for the launch of Nucoin and its own devotion program. The overall supervisor of Nucoin explained during that time that Nucoin is yet another step in their idea in the capacity of blockchain technology.Nubank is just one of the most extensive electronic banking systems, which is supported by real estate investors like Warren Buffett's Berkshire Hathaway.