.Brazilian digital banking company Nubank has revealed the urgent suspension of trading for its indigenous cryptocurrency, Nucoin. This formally ends procedures for the token introduced in March 2023.Nubank updated its clients on Tuesday that the purchase and also sale of Nucoin would certainly be actually completely halted within 15 times. The financial institution presented possible market dryness as the main reason for the abrupt suspension.Transformation possibilities for Nucoin holders.According to the information discussed by the local area news media outlet, Nubank is actually delivering a transformation choice for clients holding a minimum of 100 Brazilian reais worth of Nucoins.These individuals can choose to transform their holdings to either Bitcoin or even USDC. The conversion window will be open for 90 times, up until December 9th." To shield you and all attendees from potential volatility on the market value of Nucoins because of potential reactions to this upgrade, we have decided on to suspend your trading right away," Nubank specified in an e-mail to its own customers.The banking company specified that the holders that don't convert their tokens will definitely find their Nucoin utilized for the financial institution's remodelled benefits course.Nucoin's blockchain explorer reached half a billion purchases.Nucoin's blockchain traveler has actually struck half a billion purchases given that its own launch. Nonetheless, in spite of those suitable numbers, Nubank has actually produced its own choice to move out of crypto exchanging.The financial institution explained that moving on, Nucoins will certainly be actually only made use of for redeeming advantages within Nubank's environment. These advantages may consist of savings at the bank's shopping platform and accessibility to unique brand take ins.To reduce the impact of the ending, Nubank has declared a reward advocate its own 16 thousand Nucoin holders. The advertising includes 30 month-to-month rewards of 1,000 Brazilian reais, a monthly reward of 100,000 reais, and also a huge prize of 1 million reais at the initiative's verdict.Nubank had actually teamed up along with Polygon back in 2022. This was for the launch of Nucoin and its loyalty program. The general supervisor of Nucoin explained during that time that Nucoin is actually yet another step in their belief in the possibility of blockchain technology.Nubank is among the largest electronic banking platforms, which is supported by clients like Warren Buffett's Berkshire Hathaway.