<p><span style="font-weight: 400;">Nubank, the leading Brazilian digital bank by market value, has <a href="https://blog.nubank.com.br/nubank-cria-nucoin-moeda-digital-propria/" target="_blank" rel="noopener">announced</a> that it will launch an in-house loyalty token in the first half of 2023.</span></p> <p><span style="font-weight: 400;">The bank plans to release the token, dubbed Nucoin, as part of a broader loyalty program that offers users benefits and discounts.</span></p> <p><span style="font-weight: 400;">Nucoin will be built on the Polygon, according to Nubank, which selected 2,000 customers who will be the first to test out the token.</span></p> <p><span style="font-weight: 400;">Nubank launched its crypto trading services in May, and by the end of September, it <a href="https://www.theblock.co/post/172893/nubank-logs-nearly-1-8-million-crypto-users-in-brazil" target="_blank" rel="noopener">recorded</a> nearly 2 million crypto users on its platform.</span></p> <p><span style="font-weight: 400;">“We want to further democratize new technologies such as blockchain and web3, and go beyond Nubank Crypto, the function to buy and sell cryptocurrencies in the app,” Nubank said. </span></p> <p><span style="font-weight: 400;">This move also follows the fact that Latin American e-commerce giant Mercado Libre </span><a href="https://www.theblock.co/post/164347/mercado-libre-launches-cryptocurrency-in-brazil-for-loyalty-rewards" target="_blank" rel="noopener"><span style="font-weight: 400;">launched</span></a><span style="font-weight: 400;"> its own token, Mercado Coin, in August.</span></p><br /><span class="copyright"><p>© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p> </span>