DeFI News by Thebittimes.Com

The use cases of Polygon have been on the rise. For instance, last week it was announced that the said blockchain was being used by police in an Indian state to fight against local corruption and crime. In fact, there have been a couple of more recent developments associated with the adoption of Polygon as well. A day back, Brazilian Fintech Bank Nubank announced the creation of the Nucoin token on the Polygon blockchain. The same has paved the path for a rewards program for the bank’s 70 million clients across Latin America.  Commenting on the said development, Sandeep Nailwal, co-founder of Polygon said in a statement, “One of the largest digital banking institutions in the world, offering its own cryptocurrency is a strong testament to the utility blockchain and crypto have to offer.”  Fernando Czapski—General Manager, Nucoin—said, “This project is another step ahead in our belief in the transformative potential of blockchain technology and to democ...

Businesses and investors in Brazil have grown more interested in cryptocurrencies over the course of the year. Brazilian businesses revealed an increase in crypto holdings in one of the most recent reports issued by the country’s tax office. The interest in cryptocurrencies has been rising among Brazilian investors recently. Nearly 34 million Brazilians have engaged cryptocurrency investors who have participated in cryptocurrency investments during the preceding six months, according to a KuCoin study from April. The numbers show an increased interest in cryptocurrencies not just among investors and businesses, but also banks. Brazil’s Nubank announced that it will be providing cryptocurrency trading services to its clients in May 2022. The bank joined hands with Paxos to provide crypto access to over 50 million Brazilians. In one of the recent announcements , the bank outlined its plan to launch its own crypto . JUST IN: 🇧🇷 Brazil 's Nuban...