CandleFocus Nubank to discontinue Nucoin, allows conversion to Bitcoin or USDC
2024-09-11
Author: Content Editor
Brazilian digital bank Nubank has announced the suspension of trading for its native cryptocurrency, Nucoin, citing potential market volatility as the reason. Customers holding at least 100 Brazilian reais worth of Nucoins have the option to convert their holdings to either Bitcoin or USDC. Those who choose not to convert will see their Nucoin used for the bank's revamped rewards program. Nubank has hit half a billion transactions on Nucoin's blockchain explorer but has decided to move away from crypto trading. The bank will now exclusively use Nucoins for redeeming benefits within its ecosystem. To soften the impact of the suspension, Nubank is offering a prize campaign for its 16 million Nucoin holders.
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