Brazil-Based Neobank Nubank to Launch Own Cryptocurrency as Part of Loyalty Program
Nubank, one of the largest digital banks in the world, has announced it will issue its own cryptocurrency during the first half of 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 to Launch Nucoin in 2023 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. The token will be issued on top of Ethereum, and will use Polygon, a scaling layer, to allow its users to transact with low fees. 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 t...