Nubank on Wednesday entered into a partnership with Polygon into Web3.
Takeaway Points
- Nubank announced its partnership with Polygon
- The partnership will allow them to launch their cryptocurrency on the Polygon blockchain in the first half of 2023 and share it with their customers free of charge.
- Nubank will invite 2,000 customers to participate in a co-creation program that will be held in Brazil.
- The selection will be made in October and November.
Nubank Enters Web3
The financial platform announced they are entering into a partnership with Polygon to create its own cryptocurrency, Nucoin. According to the report, Nubank will grow and develop its crypto with the Polygon Supernets.
Fernando Czapski, General Manager for Nucoin at Nubank, said it’s a way to recognize the loyalty of their customers and a belief in Web3 in his statement.
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“We are opening a door to the future. Nucoin is a new way to recognize customer loyalty and foster engagement with Nubank products. 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.” He said.
Sandeep Nailwal, Co-Founder of Polygon, in his comment said that the partnership is proof of the service “that blockchain and crypto have to offer.” He further added.
“The fact that one of the largest digital banking institutions in the world is offering its own cryptocurrency is a strong testament to the utility that blockchain and crypto have to offer. Nubank’s customer loyalty rewards program, powered by Polygon, will deliver the transformative benefits of blockchain technology to its customers, whilst acknowledging the shift happening in the traditional financial space.”
Other services
The report said that the token will be launched in the first half of 2023 and will be shared with customers free of charge.
In Brazil, Nubank will invite about 2,000 customers to participate in the co-creation program related to Nucoin. According to Nubank, the selection will be made in October and November, including majorly engaged members of Nucommunity (an online forum for Nubank customers).
Nubank said that creating Nucoin is a way of recognizing and rewarding their 70 million users and also a way to change the way companies reward customers who use their services.
