Brazil’s Nubank To Launch Loyalty Token

Nubank, the largest Brazilian digital bank by market capitalization, announced the introduction of an in-house loyalty token in the first half of 2023.

The bank intends to launch the Nucoin token as part of a larger loyalty program that will provide users with rewards and discounts.

According to Nubank, Nucoin will be built on the Polygon, and 2,000 clients will be the first to test the token.

Nubank began offering cryptocurrency trading services in May, and by the end of September, it had roughly 2 million cryptocurrency users on its platform. The bank said in a statement:

“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.”

This initiative comes on the heels of Mercado Libre, the Latin American e-commerce powerhouse, launching its own coin, Mercado Coin, in August.

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