Brazilian digital bank launches Nucoin crypto based on 0xPolygon. $MATIC
s, separate digital banks have begun releasing their own crypto, getting ahead of central banks.
Recently Nubank, a digital bank based in Brazil, has launched Nucoin in partnership with Polygon for its 70 million customers. This is not the first project of the kind that has been carried out in Brazil over the past year. Nubank, a Brazilian digital bank with 70 million users, launched its own digital currency Nucoin, developed by Polygon, with a total of 100 billion, but only in the Nubank application, no secondary market, and it cannot be withdrawn to private wallets middle.According to the press release, Nucoin digital bank has issued its own crypto dubbed Nucoin in the amount of 100 billion that is intended to be used only by the bank's clients — 70 million of them.
The crypto was developed using the Polygon blockchain, the issuer of the MATIC token. This crypto will work as part of a customer loyalty program. It will be granted to clients as bonuses to be used within the bank, as not a single Nucoin will be allowed for withdrawal to a third-party wallet. There will be no secondary market for this cryptocurrency, but 80% of the emittance will be given out to the bank's users. They will be able to use it within the ecosystem of Nubank itself and other companies that will partner with it to join the ecosystem in the future. All Nucoin transactions will take place within the Nubank mobile app.
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