Nubank Set to Develop Its Own Digital Currency

Brazilian digital banking behemoth Nubank is developing its own cryptocurrency, called Nucoin, for its millions of customers.

The Nucoin token will be the basis for a rewards programme when it launches next year, distributed for free to the bank's 70 million customers for discounts and other perks.

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However, Nubank says that in the future it also wants to see Nucoins traded in the crypto market.

The bank is inviting 2000 customers to participate in a forum group to help develop the token, which is being built on the Polygon network.

"With Nucoin, we want to further democratize new technologies such as blockchain and web3," says a blog.

(Source: Finextra)