Brazil's Largest Digital Lender To Launch Its Crypto

Nubank To Launch A New Cryptocurrency

Nubank, a Brazilian digital banking startup plans to launch its own cryptocurrency in the country next year.

[{"selector":"#anim-cd3c16bb-3149-40a8-ad74-ea9a750b7272","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-38292b9e-5ba5-48f0-b2ac-dcbccb3349b3","keyframes":{"transform":["translate3d(0px, 206.00168%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-942a9625-23c7-47c4-8694-069df797c8d6","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c1a56ed3-b521-4702-bd84-b78968d96f29","keyframes":{"transform":["translate3d(114.50150%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

The token is named as Nucoin and will launch the in the first half of 2023.

[{"selector":"#anim-32be9d96-ddc8-4a7c-a51c-37b97abe5042","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6c6153e2-dde9-4738-b54f-ebcdbd369391","keyframes":{"transform":["translate3d(0px, -707.68159%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

In a press release, the company acclaim Nucoin as “a new way to recognize customer loyalty and encourage engagement with Nubank products.”

[{"selector":"#anim-fd8eed4e-ac5c-4bc3-94e4-ae025597b7b6","keyframes":{"opacity":[0,1]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5bc1c9e6-23e6-4f63-b5f7-683be9b99ccb","keyframes":{"transform":["translate3d(91.22807%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}]

Nubank said it would invite 2,000 customers to take part in a forum group for guiding the development of Nucoin.

[{"selector":"#anim-50123032-7ed8-41ea-99cf-8d81e87e9849","keyframes":[{"offset":0,"transform":"translate3d(0, -429.35938%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.29,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.45,"transform":"translate3d(0, -120.735857656%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.61,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.71,"transform":"translate3d(0, -41.046756728%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.8,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.85,"transform":"translate3d(0, -15.414001742%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":0.92,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"},{"offset":0.96,"transform":"translate3d(0, -6.698006327999999%, 0)","easing":"cubic-bezier(.5, 0, 1, 1)"},{"offset":1,"transform":"translate3d(0, 0%, 0)","easing":"cubic-bezier(0, 0, .5, 1)"}],"delay":0,"duration":1600,"fill":"both"}] Learn more

The cryptocurrency was built on the Polygon Network, a so-called “Layer 2” protocol aimed at alleviating congestion on the Ethereum blockchain.

[{"selector":"#anim-d06cd361-8f26-4672-a444-2c42ee764c92","keyframes":{"transform":["translate3d(107.47663%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4f91dfc2-c40d-4702-ab59-8df95a26bbb3","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-efdba140-4afa-48aa-8406-37e8b0dbede4","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Nubank previously entered the crypto game through its Nucripto platform, which offers trading in various tokens including Bitcoin and Ethereum.

[{"selector":"#anim-09948f93-a341-4c62-ae39-2ad53d20ae6a","keyframes":{"transform":["translate3d(-121.03449%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3e245097-71b3-45d3-bf46-6b91b8030128","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3501142b-f654-445f-aef1-a8d6e7f913ad","keyframes":{"transform":["scale(0.15)","scale(1)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"forwards"}]

Nubank is not the first bank to launch its own cryptocurrency. JP Morgan has launched its own token named JPMCoin.

[{"selector":"#anim-cd2f709e-3c88-4d2a-ae9c-218bbe3d63a0","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-9bf85e02-22c8-413d-a67c-f32d3c28fbff","keyframes":{"transform":["scale(0.3333333333333333)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-312344dc-29ca-492e-8d3f-7e8d536c2e6e","keyframes":{"transform":["translate3d(-314.99994%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .8, 1)","fill":"both"}] [{"selector":"#anim-41f57020-67fc-462e-a6f4-f5fbb54f5ede","keyframes":{"transform":["rotateZ(-180deg)","rotateZ(0deg)"]},"delay":0,"duration":1000,"easing":"cubic-bezier(.2, 0, .5, 1)","fill":"forwards"}] Learn more