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With the Launch of Its New Cryptocurrency for 2023, Nubank Intends to Invite Customers for Testing Its New Technology and Distribute Free Tokens
Nubank announced on Wednesday, 19th, its latest creation: Nucoin, its digital currency on the Polygon blockchain. The technology is scheduled to launch in the first half of 2023, with the fintech’s tokens distributed free of charge to customers. The tokens will serve as the basis for Nubank to create a benefits program for its users in Brazil.
The new technology was developed in partnership with Polygon, a blockchain company that will provide the technology and technical support for Nubank to develop its cryptocurrency, which initially is a token. The fintech’s partner uses the Ethereum structure to allow the creation of decentralized applications.
How Cryptocurrencies Work
Testing the New Cryptocurrency
According to a press release, Nubank announced that it will invite approximately 2,000 customers to “participate in the usage process and dynamics related to Nucoin.”
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Invitations will be issued throughout October and November, using the level of engagement of NuCommunity users as selection criteria, an online space dedicated to communication with customers and the use of Nubank’s products and services.
The selected customer for testing will join an exclusive area within NuCommunity. In addition to feedback, the “conversations” phase with customers also serves to “explore a decentralized product creation process” that, as highlighted by the fintech, is a characteristic of Web3.
Open Doors to the Future
According to the company, it is opening a door to the future. Nucoin is a new way to recognize customer loyalty and encourage engagement with Nubank’s products.
“The new technology is another step we take because we believe in the transformative potential of blockchain technology and in democratizing it further, going beyond the buying, selling, and holding of cryptocurrencies in our app,” explains Fernando Czapski, head of Nucoin.
According to Nubank, the purpose of creating a cryptocurrency is to “offer customers benefits such as discounts and advantages as they accumulate Nucoins.” The bank plans, in the future, to trade Nucoin in the cryptocurrency market.
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