Brazil's Nubank to Launch its Own Digital Currency
Main page News, Altcoins, Banking, Brazil

Nubank, Brazil's largest neobank, plans to partner with Polygon in the first half of 2023 to launch Nucoin, its own digital currency.

According to the company's blog post, the initiative is a new way to expand the bank's loyalty program.

In particular, the token will be distributed for free among the bank's 70 million customers and will offer discounts on the company's products and other privileges.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

Nucoin CEO Fernando Czapski has said:

"This project is another step forward in our belief in the transformative potential of blockchain technology and its further democratization beyond buying, selling and serving cryptocurrencies in the Nu app."

According to him, Nubank will engage around 2,000 customers to discuss the details of the project.

The company has said:

"At this stage, not only feedback is provided, but also the study of the decentralized process of creating a product that is typical of Web3."

Read also:
Please describe the error