.Brazilian electronic banking company Nubank has actually introduced the immediate revocation of investing for its own native cryptocurrency, Nucoin. This formally finishes functions for the token released in March 2023.Nubank informed its consumers on Tuesday that the investment and also sale of Nucoin would certainly be actually entirely halted within 15 times. The financial institution presented potential market volatility as the cause for the abrupt revocation.Transformation alternatives for Nucoin owners.According to the particulars shared by the regional updates media outlet, Nubank is actually using a sale alternative for consumers having at the very least one hundred Brazilian reais really worth of Nucoins.These users may decide on to change their holdings to either Bitcoin or USDC. The transformation window will certainly level for 90 times, until December 9th." To defend you plus all individuals from possible dryness in the market worth of Nucoins due to prospective reactions to this update, we have opted for to suspend your trading instantly," Nubank said in an email to its own consumers.The bank said that the holders that do not change their symbols will definitely view their Nucoin used for the financial institution's revamped benefits program.Nucoin's blockchain traveler reached half a billion transactions.Nucoin's blockchain traveler has actually struck half a billion transactions because its own launch. Nonetheless, in spite of those decent varieties, Nubank has actually made its own decision to move out of crypto trading.The financial institution explained that proceeding, Nucoins will certainly be only utilized for compensatory advantages within Nubank's ecological community. These advantages might consist of rebates at the banking company's shopping system and access to exclusive label encounters.To lessen the impact of the discontinuation, Nubank has announced a prize campaign for its 16 thousand Nucoin owners. The promotion includes 30 monthly awards of 1,000 Brazilian reais, a month-to-month reward of 100,000 reais, and a huge reward of 1 million reais at the project's verdict.Nubank had actually collaborated with Polygon back in 2022. This was for the launch of Nucoin as well as its own devotion plan. The standard manager of Nucoin specified back then that Nucoin is actually one more intervene their opinion in the possibility of blockchain technology.Nubank is just one of the most extensive electronic banking systems, which is backed by investors like Warren Buffett's Berkshire Hathaway.