Brazilian digital banking behemoth Nubank is developing its own cryptocurrency, called Nucoin, for its millions of customers.
In Brief:
The Nucoin token will be the basis for a rewards programme when it launches next year
The bank is inviting 2000 customers to participate in a forum group to help develop the token
The cryptocurrency was built on the Polygon network, a so-called “Layer 2” protocol that aims to alleviate congestion on the Ethereum blockchain
What does this mean?
“The project is another step ahead in our belief in the transformative potential of blockchain technology and to democratize it even more, going beyond the purchase, sale and maintenance of cryptocurrencies in the Nu app,” Fernando Czapski, general manager for Nucoin at Nubank, said in a statement.
