.Brazilian digital financial institution Nubank has actually introduced the instant revocation of trading for its native cryptocurrency, Nucoin. This officially ends functions for the token introduced in March 2023.Nubank notified its own clients on Tuesday that the investment and also sale of Nucoin will be actually totally halted within 15 times. The banking company cited prospective market dryness as the explanation for the unexpected revocation.Conversion possibilities for Nucoin holders.According to the details shared due to the regional information media electrical outlet, Nubank is actually using a transformation alternative for consumers keeping at least 100 Brazilian reais really worth of Nucoins.These individuals can easily decide on to transform their holdings to either Bitcoin or even USDC. The transformation window are going to level for 90 times, till December 9th." To protect you and all attendees coming from possible dryness available worth of Nucoins due to potential responses to this update, our team have opted for to suspend your trading right away," Nubank explained in an e-mail to its customers.The financial institution explained that the owners who don't convert their tokens will definitely find their Nucoin made use of for the banking company's overhauled benefits program.Nucoin's blockchain traveler struck half a billion transactions.Nucoin's blockchain explorer has actually struck half a billion transactions given that its launch. Nonetheless, even with those nice numbers, Nubank has actually made its selection to relocate away from crypto trading.The financial institution mentioned that proceeding, Nucoins will certainly be solely utilized for compensative benefits within Nubank's ecosystem. These advantages might feature rebates at the banking company's buying system and also accessibility to special company encounters.To reduce the influence of the ending, Nubank has declared a prize campaign for its 16 thousand Nucoin owners. The advertising features 30 regular monthly awards of 1,000 Brazilian reais, a monthly reward of 100,000 reais, and also a grand reward of 1 million reais at the project's verdict.Nubank had actually collaborated along with Polygon back in 2022. This was actually for the launch of Nucoin as well as its loyalty plan. The overall manager of Nucoin stated during that time that Nucoin is yet another step in their belief in the potential of blockchain technology.Nubank is one of the biggest digital banking platforms, which is actually backed through investors like Warren Buffett's Berkshire Hathaway.