Nubank announces the end of the Nucoin buying and selling service

Nubank has announced that it is revamping its Nucoin rewards program, with the gradual inclusion of new benefit categories starting in the coming months and a change in its exchange regime.

According to the announcement, as of this Tuesday (10), it will no longer be possible to buy or sell Nucoins. With this, Nubank’s native cryptocurrency will be used exclusively to exchange for benefits within the Nubank product ecosystem.

Furthermore, by the end of the year, Nubank will incorporate new types of benefits to make the program even more attractive. The new features include discounts at Nu Shopping, advantages for accessing our brand experiences and benefits on a variety of Nubank products, among others. As highlighted by the digital bank, the benefits program has more than 16 million users in Brazil.

Nubank reformulates the use of Nucoin

According to Nubank, the decision to reformulate the use of Nucoin occurred after the bank “listened to its customers”:

“The company found that the benefits offered within the Nubank ecosystem are among the rewards most valued by people. Therefore, Nubank chose to reformulate the front of the rewards program, so that the offer can evolve and expand in a way that is even more aligned with people’s demands”, said the bank.

To mark this new phase, Nubank is running a special lucky number giveaway campaign for customers to compete for monthly cash prizes until the end of the year. Those with zero to 99 Nucoins will win one lucky number; those with 100 to 199 Nucoins will receive two lucky numbers; and those with 200 or more Nucoins will be entitled to three lucky numbers.

How to redeem Nucoin

Also in this phase of the program’s reformulation, customers with at least R$100 in Nucoins will be able to redeem them in cryptocurrency packages (Bitcoin or USDC). In addition, the bank is offering the possibility of manually unfreezing Nucoins frozen for redemption. This way, users will not need to wait for the original unfreezing period.

“Customers will continue to accumulate Nucoins as normal. Anyone who wishes to redeem their Nucoins, even those frozen, in cryptocurrency packages will have up to 90 days from today’s date to make their choice (until December 9). If the Nucoin holder does not make their choice within the deadline, their Nucoins will be kept for accumulation and future benefit from the rewards program,” he informed.

As part of the change, it will no longer be possible to trade Nucoins. In order to protect participants from potential volatility in the value of Nucoins due to potential reactions to this update, Nubank has chosen to suspend trading immediately.

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