.Brazilian digital financial institution Nubank has announced the immediate suspension of trading for its own native cryptocurrency, Nucoin. This officially finishes operations for the token released in March 2023.Nubank notified its own consumers on Tuesday that the acquisition and also purchase of Nucoin will be actually completely stopped within 15 times. The financial institution mentioned possible market dryness as the main reason for the abrupt suspension.Sale choices for Nucoin owners.According to the details discussed due to the nearby news media channel, Nubank is delivering a sale option for clients holding a minimum of one hundred Brazilian reais really worth of Nucoins.These users may opt for to transform their holdings to either Bitcoin or USDC. The transformation window will be open for 90 days, up until December 9th." To secure you and all participants coming from possible dryness in the market worth of Nucoins due to possible reactions to this update, our team have selected to suspend your trading quickly," Nubank specified in an e-mail to its own consumers.The financial institution explained that the holders who do not change their tokens will certainly observe their Nucoin utilized for the financial institution's revamped benefits program.Nucoin's blockchain traveler attacked half a billion purchases.Nucoin's blockchain explorer has actually reached half a billion deals since its own launch. Nonetheless, in spite of those good numbers, Nubank has actually made its choice to move away from crypto trading.The financial institution said that moving on, Nucoins will certainly be actually specifically made use of for compensatory advantages within Nubank's ecological community. These advantages might consist of rebates at the bank's shopping system and also accessibility to special brand experiences.To decrease the effect of the discontinuation, Nubank has announced an award advocate its 16 thousand Nucoin owners. The promo features 30 regular monthly rewards of 1,000 Brazilian reais, a month to month prize of 100,000 reais, and also a splendid award of 1 thousand reais at the campaign's final thought.Nubank had actually worked together with Polygon back in 2022. This was for the launch of Nucoin as well as its own loyalty program. The basic manager of Nucoin said back then that Nucoin is actually an additional intervene their view in the potential of blockchain innovation.Nubank is one of the largest electronic banking systems, which is backed by investors like Warren Buffett's Berkshire Hathaway.