In the first half of 2023, Brazil’s largest neobank Nubank, in partnership with Polygon, will launch its own digital currency Nucoin. This is stated in the company’s blog.
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The token will be distributed free of charge among 70 million bank customers, it will provide discounts on the company’s products and other privileges.
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\”This project is another step forward in our belief in the transformative potential of blockchain technology and in its greater democratisation, extending beyond the buying, selling and servicing of cryptocurrencies in the Nu app,\” said Nucoin’s general manager Fernando Chapski.
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According to him, Nubank will engage around 2,000 customers in discussing the project’s details.
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\”At this stage, not only feedback is being sought, but also exploration of a decentralized product-creation process typical of Web3,\” the company said.
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Polygon co-founder Sandeep Nailwal called the bank’s initiative \”a compelling demonstration of the usefulness of blockchain and cryptocurrencies.\”
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The native token of the Ethereum layer-2 solution (MATIC) rose by only 0.5% in the last 24 hours, according to CoinGecko.
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Earlier Nubank announced a partnership with Paxos, under which it provided customers the ability to buy, sell and store Bitcoin and Ethereum.
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According to Chainalysis, Brazil ranks seventh in the global cryptocurrency adoption index. The country is popular for platforms Mercado Libre, PicPay, BTG Pactual and XP; exchanges Binance, Bitso, Bitcoin Trade and Mercado Bitcoin operate there.
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In September Starbucks selected Polygon for a Web3 initiative aimed at expanding its customer-loyalty program.
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