Share this article
Brazil’s Largest Digital Lender Nubank to Roll Out Own Token to 70M Users in 2023
Named Nucoin, the new token will be used to offer discounts and perks to customers.
Updated May 9, 2023, 3:59 a.m. Published Oct 19, 2022, 12:22 p.m.
This article is adapted from CoinDesk Brasil, a partnership between CoinDesk and InfoMoney, one of Brazil's leading financial news publications. Follow CoinDesk Brasil on Twitter.
Nubank, the largest Brazilian digital bank by market value, plans to release its own token next year in Brazil, Colombia and Mexico, the company announced Wednesday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The token – called nucoin and built on Polygon – will be available for Nubank’s 70 million users in the first half of 2023, the company said in a statement, adding that it will be distributed freely and used to offer discounts and perks.
“We are opening a door to the future,” said Fernando Czapski, general manager for nucoin at Nubank, in a statement. “Nucoin is a new way to recognize customer loyalty and encourage engagement with Nubank products.”
Prior to the launch in the fourth quarter of 2023, Nubank plans to select 2,000 users to test the token feature and give feedback, with the purpose of decentralizing the product creation process.
"This project is another step ahead in our belief in the transformative potential of blockchain technology and to democratize it even more, going beyond the purchase, sale and maintenance of cryptocurrencies in the Nu app,” Czapski said.
Nubank introduced its crypto trading platform in Brazil in June and reached 1 million users one month later.
In August, Mercado Libre (MELI), Latin America’s largest e-commerce company by market cap, launched its own cryptocurrency in Brazil – Mercado Coin – which can be used to make purchases on Mercado Libre and as cash back on purchases.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Turkey's Paribu Buys CoinMENA in $240M Deal, Expanding Into High-Growth Crypto Markets
With the acquisition, Paribu gains regulatory foothold in Bahrain and Dubai and access to the region's fast-growing crypto user base.
What to know:
- Paribu acquires Bahrain- and Dubai-based CoinMENA for up to $240 million.
- Deal marks Turkey’s biggest fintech acquisition and first international crypto M&A, the firm said.
- The move taps into the MENA region’s fast-growing crypto user base and supportive regulatory hubs.
Top Stories
