Warren Buffett-Backed Neobank Nubank Launches Own Currency Nucoin

Warren Buffett-backed Nubank, a Brazil-based neobank that debuted crypto trading options back in May 2022 på sin platform, has announced the launch of nucoin, its own cryptocurrency. Part of the first batch of the currency, issued on top of Polygon’s network, will be issued to its customers as an airdrop, and for cashback purposes.

Nubank Launches Nucoin Cryptocurrency

Warren Buffett-backed Nubank, one of the biggest digital neobanks in Latam, has announced the issuance of its own cryptocurrency called nucoin. The token, which is issued on top of the Polygon network, will be airdropped to end users of the institution, med 80% of the total issuance being directed to the customers.

According to local rapporter, nucoin will be key to several activities in the future, including the establishment of a cashback program, with users receiving rewards in the form of the token, and the realization of internal nucoin raffles. Nucoin will not have a secondary market, as transactions with the token will be only available on Nubank’s platform.

Nucoin is already available to a part of the 70 million customers the exchange rapporteret having reached back in September, with almost 2 million having purchased crypto. The initial price of the currency (if it will have a determined price) was not disclosed by Nubank.

More Options

According to reports from local outlets, Nubank will present further options involving its currency, including staking programs that will allow customers to lock their nucoins to receive more nucoins over a period of time, or to receive more tickets for internal raffles. There will reportedly be a future option to exchange nucoins for cash via the platform.

Se også  'Offentlig' tilføjer handel med kryptovaluta med henvisning til millioner af investorer, der ser Crypto som 'overbevisende aktivklasse'

The issuance and launch of nucoin comes as no surprise to some, as the company has been working on this initiative since October, when Fernando Czapski, senior director and general manager at Nubank, anført that the company believed in the “transformative potential of blockchain technology” and in its democratization.

The initiative is similar to the one executed by retail and financial services company Mercado Libre in August last year, when the organization also issued its own cryptocurrency, called mercadocoin, to be part of its loyalty programs. Imidlertid, Mercado Libre did establish an initial price for its token, valued at $0.10 at the time of its launch.

Tags i denne historie

What do you think about Nubank issuing its own cryptocurrency on top of Polygon? Tell us in the comment section below.

Sergio Goschenko

Sergio er en cryptocurrency-journalist baseret i Venezuela. Han beskriver sig selv som sent til kampen, ind i kryptosfæren, da prisstigningen skete i løbet af december 2017. Har en computeringeniørbaggrund, bor i Venezuela, og blive påvirket af cryptocurrency-boomet på socialt plan, han tilbyder et andet synspunkt om kryptosucces, og hvordan det hjælper de ubankede og undertjente.

Billedkreditter: Shutterstock, Pixabay, Wiki Commons, Ascannio / Shutterstock.com

Ansvarsfraskrivelse: Denne artikel er kun til informationsformål. Det er ikke et direkte tilbud eller opfordring til et tilbud om at købe eller sælge, eller en anbefaling eller godkendelse af produkter, tjenester, eller virksomheder. Bitcoin-Tidings.com giver ikke investeringer, skat, gyldige, eller regnskabsrådgivning. Hverken virksomheden eller forfatteren er ansvarlig, direkte eller indirekte, for enhver skade eller tab forårsaget eller påstået at være forårsaget af eller i forbindelse med brugen af ​​eller tilliden til noget indhold, varer eller tjenesteydelser nævnt i denne artikel.

Se også  Kreditkort bør ikke bruges til kryptotransaktioner, Det siger Taiwans finansielle vagthund

Læs ansvarsfraskrivelse