Cryptocurrency that makes a deal with a billion-dollar bank!

According to the announcement, a popular altcoin has partnered with a bank with a valuation of over $20 billion. Nubank, a fintech founded in 2013 with the mission of expanding access to financial services, is partnering with Polygon to launch its cryptocurrency token and leverage the democratizing power of Web3.

Nubank Nucoin and Matic

Nubank will initially invite 2,000 users to actively participate in the co-creation of Nucoin. Participants will be selected from among the most active and engaged members of NuCommunity, an online forum for Nubank customers. The election will take place between October and November.

After the news, the MATIC price climbed to $0.88 on the Binance exchange. The price is at $0.865 at the time of writing. Nucoin will be powered by Polygon Supernets technology, which enables the creation of application-specific, scalable and customizable blockchain networks. Nubank plans to offer its cryptocurrency to its customers in the first half of 2023. These tokens will form the basis of their customers’ loyalty rewards program and generate benefits such as discounts and other benefits.

Nubank followed global companies such as Starbucks, Robinhood, and Stripe, which chose Polygon as their Web3 entry point. The Polygon (MATIC) ecosystem has more than 53,000 decentralized applications. Polygon Supernets provides premium support to help partners build their own chains without the hassle of maintaining the blockchain infrastructure.

Sandeep Nailwal, co-founder of Polygon, said:

“The fact that one of the world’s largest digital banking institutions is offering its own cryptocurrency is a strong testament to the benefits that blockchain and crypto offer. Nubank’s customer loyalty rewards program, powered by Polygon, will offer its customers the transformative benefits of blockchain technology while acknowledging the shift in traditional finance.”

MATIC, which fell to $ 0.83 in the last 24 hours, finds buyers at $ 0,871 as of 18:20. In the long run, this development is likely to have a positive effect on the price.

You can make profit or loss from your investments. That’s why you should always follow the breaking news about cryptocurrencies.

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