Nubank Discontinues Native Token Nucoin Operations
CryptoNewsTerminal Staff10 Sep, 2024
Nubank Discontinues Native Token Nucoin Operations
Nubank, a prominent Brazilian online bank that supports cryptocurrency trading, has made the decision to discontinue the operation of its native token, Nucoin. This announcement was made on the 10th (local time) and reported by Brazilian media portal Portal do Bitcoin. In a move to safeguard investors from the volatility of Nucoin's market value, Nubank has announced that Nucoin trading services will be suspended within 15 days. Nucoin holders can exchange their Nucoins for BTC or USDC until December 9th. Nucoin was launched by Nubank on the Polygon (POL) blockchain in March of last year. This decision to discontinue Nucoin operations is a significant development in the cryptocurrency industry and is likely to impact the broader market sentiments.
