2 years ago
Warren Buffett-backed Nubank, a Brazil-based neobank that debuted crypto trading options backmost successful May 2022 connected its platform, has announced the motorboat of nucoin, its ain cryptocurrency. Part of the archetypal batch of the currency, issued connected apical of Polygon’s network, volition beryllium issued to its customers arsenic an airdrop, and for cashback purposes.
Nubank Launches Nucoin Cryptocurrency
Warren Buffett-backed Nubank, 1 of the biggest integer neobanks successful Latam, has announced the issuance of its ain cryptocurrency called nucoin. The token, which is issued connected apical of the Polygon network, volition beryllium airdropped to extremity users of the institution, with 80% of the full issuance being directed to the customers.
According to section reports, nucoin volition beryllium cardinal to respective activities successful the future, including the constitution of a cashback program, with users receiving rewards successful the signifier of the token, and the realization of interior nucoin raffles. Nucoin volition not person a secondary market, arsenic transactions with the token volition beryllium lone disposable connected Nubank’s platform.
Nucoin is already disposable to a portion of the 70 cardinal customers the speech reported having reached backmost successful September, with astir 2 cardinal having purchased crypto. The archetypal terms of the currency (if it volition person a determined price) was not disclosed by Nubank.
More Options
According to reports from section outlets, Nubank volition contiguous further options involving its currency, including staking programs that volition let customers to fastener their nucoins to person much nucoins implicit a play of time, oregon to person much tickets for interior raffles. There volition reportedly beryllium a aboriginal enactment to speech nucoins for currency via the platform.
The issuance and motorboat of nucoin comes arsenic nary astonishment to some, arsenic the institution has been moving connected this inaugural since October, erstwhile Fernando Czapski, elder manager and wide manager astatine Nubank, stated that the institution believed successful the “transformative imaginable of blockchain technology” and successful its democratization.
The inaugural is akin to the 1 executed by retail and fiscal services institution Mercado Libre successful August past year, erstwhile the enactment besides issued its ain cryptocurrency, called mercadocoin, to beryllium portion of its loyalty programs. However, Mercado Libre did found an archetypal terms for its token, valued astatine $0.10 astatine the clip of its launch.
What bash you deliberation astir Nubank issuing its ain cryptocurrency connected apical of Polygon? Tell america successful the remark conception below.
Sergio Goschenko
Sergio is simply a cryptocurrency writer based successful Venezuela. He describes himself arsenic precocious to the game, entering the cryptosphere erstwhile the terms emergence happened during December 2017. Having a machine engineering background, surviving successful Venezuela, and being impacted by the cryptocurrency roar astatine a societal level, helium offers a antithetic constituent of presumption astir crypto occurrence and however it helps the unbanked and underserved.
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