.Brazilian electronic bank Nubank has announced the quick suspension of trading for its own indigenous cryptocurrency, Nucoin. This officially ends procedures for the token released in March 2023.Nubank informed its own customers on Tuesday that the purchase and also purchase of Nucoin would be completely stopped within 15 days. The financial institution mentioned potential market dryness as the factor for the abrupt suspension.Conversion possibilities for Nucoin owners.According to the information discussed due to the local updates media electrical outlet, Nubank is actually using a conversion option for clients holding at least 100 Brazilian reais really worth of Nucoins.These consumers can select to turn their holdings to either Bitcoin or USDC. The conversion window are going to be open for 90 days, up until December 9th." To safeguard you and all attendees coming from prospective volatility available value of Nucoins as a result of potential reactions to this upgrade, our company have actually chosen to suspend your investing promptly," Nubank explained in an e-mail to its own consumers.The financial institution mentioned that the owners that do not change their symbols will see their Nucoin utilized for the banking company's renewed rewards plan.Nucoin's blockchain traveler hit half a billion purchases.Nucoin's blockchain explorer has actually hit half a billion deals since its launch. However, in spite of those good numbers, Nubank has made its selection to relocate away from crypto investing.The financial institution specified that moving forward, Nucoins will be actually solely used for redeeming benefits within Nubank's community. These benefits might consist of savings at the bank's shopping system and also access to exclusive company experiences.To minimize the impact of the ending, Nubank has actually revealed an award advocate its own 16 million Nucoin holders. The promotion includes 30 month to month awards of 1,000 Brazilian reais, a month to month reward of 100,000 reais, as well as a marvelous reward of 1 million reais at the project's final thought.Nubank had actually worked together along with Polygon back in 2022. This was for the launch of Nucoin as well as its own commitment plan. The overall supervisor of Nucoin specified during that time that Nucoin is actually yet another come in their idea in the ability of blockchain technology.Nubank is one of the largest electronic financial platforms, which is actually backed by investors like Warren Buffett's Berkshire Hathaway.