.Brazilian electronic bank Nubank has introduced the immediate revocation of investing for its own indigenous cryptocurrency, Nucoin. This officially ends procedures for the token launched in March 2023.Nubank updated its customers on Tuesday that the acquisition and also purchase of Nucoin would be totally halted within 15 days. The banking company cited possible market volatility as the reason for the sudden suspension.Conversion options for Nucoin owners.Depending on to the information discussed by the local updates media outlet, Nubank is actually using a transformation choice for consumers keeping at least 100 Brazilian reais truly worth of Nucoins.These customers can easily opt for to convert their holdings to either Bitcoin or USDC. The conversion home window are going to be open for 90 times, up until December 9th." To defend you plus all individuals coming from potential dryness available worth of Nucoins because of possible responses to this upgrade, our team have actually selected to suspend your exchanging right away," Nubank specified in an e-mail to its consumers.The financial institution said that the holders that do not turn their gifts will find their Nucoin utilized for the financial institution's revamped rewards plan.Nucoin's blockchain traveler struck half a billion purchases.Nucoin's blockchain explorer has actually attacked half a billion purchases due to the fact that its own launch. However, even with those decent amounts, Nubank has actually made its own decision to move away from crypto investing.The bank mentioned that moving forward, Nucoins are going to be actually only used for redeeming benefits within Nubank's ecosystem. These benefits might include savings at the financial institution's shopping system and access to special label encounters.To minimize the influence of the discontinuation, Nubank has introduced a reward advocate its own 16 million Nucoin owners. The advertising consists of 30 month-to-month awards of 1,000 Brazilian reais, a monthly reward of 100,000 reais, and also a huge prize of 1 million reais at the campaign's conclusion.Nubank had actually teamed up along with Polygon back in 2022. This was for the launch of Nucoin and also its own devotion plan. The general manager of Nucoin explained at that time that Nucoin is another action in their belief in the ability of blockchain innovation.Nubank is one of the largest electronic banking systems, which is supported by clients like Warren Buffett's Berkshire Hathaway.