Brazil-based neobank, Nubank has announced the launch of nucoin, its cryptocurrency.
It was gathered that the token, which is issued on top of the Polygon network, will be airdropped to end users of the institution, with 80% of the total issuance being directed to the customers.
As reported by ‘Bitcoin.com’, part of the first batch of the currency, issued on top of Polygon’s network, will be issued to its customers as an airdrop, and for cashback purposes.
“According to local reports, nucoin will be key to several activities in the future, including the establishment of a cashback program, with users receiving rewards in the form of the token, and the realization of internal nucoin raffles. Nucoin will not have a secondary market, as transactions with the token will be only available on Nubank’s platform.
“Nucoin is already available to a part of the 70 million customers the exchange reported having reached back in September, with almost 2 million having purchased crypto. The initial price of the currency (if it will have a determined price) was not disclosed by Nubank, ” the report said.
