Nubank, the Brazil-based institution which has offices all across Latam, will issue its own cryptocurrency called Nucoin in 2023.
The currency, called Nucoin, will be issued on top of Ethereum with the help of Polygon, a second layer that allows users and developers to take advantage of lower fees, and will be airdropped to all the customers of the bank.Nubank, the biggest digital bank outside of Asia, revealed its plans to delve deeper into the digital economy through the issuance of its own coin. The Brazil-based institution, which also has offices all across Latam, will issue its own token, called Nucoin.
This move is directed at ramping up the loyalty and benefits program of the bank. The issuance of the token is projected to happen during the first half of 2023. While the company did not specify whether this token would have a market value, it did explain that the nucoins would be useful for customers to access discount prices for Nubank’s products and services.
The company announced it was offering its services to more than 54 million customers in June. In September, Nubank issued a press release that it was now serving 70 million customers in Latam and that almost 2 million had purchased crypto using its services.its own cryptocurrency, called Mercadocoin, in August, and it is already available for trading.
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