Warren Buffett’s backed digital bank, Nubank launched their own Cryptocurrency in Brazil
Digital bank, Nubank which is backed by Warren Buffett has now started their own Cryptocurrency in Brazil

The successful and popularly known Brazilian-based digital banking startup named Nukbank has reportedly started their new cryptocurrency within Brazil and this new crypto coin by the bank will be live in the coming next year.

This move by Nubank shows a new step into buying and selling digital assets. If you are looking to get a new update about this Nubank cryptocurrency, then here we have got you covered with everything you should know:

Nubank launched its Cryptocurrency in Brazil

Nubank has reportedly launched its new cryptocurrency token called the Nucoin within their operating country which is Brazil. After announcing this Nucoin with their public release, we also got a confirmation about this coin making its way to Crypto markets by early’s 2023.

The Brazilian-based digital bank also announced something new in its press release, where the company claimed: 

“A new technique of rewarding client loyalty as well as encouraging participation using Nubank product,” Nubank said that it intends to provide token owners incentives as well as other benefits.

We also have another statement coming from the general manager of Nucoin at Nubank, Fernando Crazpski which says: 

“This same program is another step forward towards uplifting our confidence within the revolutionary potential for blockchain technology in order to further democratize it, to move beyond buying, selling, and preservation of cryptocurrencies, it can be done with the official Nu app,” says the company.

Talking more about Nubank’s innovation, it’s been said by Nubank that they will be sending official invites to their 2,000 chosen potential customers. Also, these customers will be taking part in a forum group that will be helping towards the development and smooth transaction of cryptocurrency. 

According to the phase, during this invite phase, the customers will be able to provide feedback and will be getting a chance towards exploring a decentralized process.

This new Nucoin was developed by Polygon network, which is a popularly known blockchain network that works on developing new coins for the crypto market. 

This new Nucoin was developed by following a so-called Layer 2 protocol that has been aimed towards alleviating congestion on the entire Ethereum blockchain network, this is the exact place where transactions have been very much costly and time-consuming.

As per company claims, it’s been said by Polygon that new cryptocurrency technology gets support for thousands of transactions per second. If you are also looking towards this Nucoin, then you just need to wait till early’s 2023.