Nubank announced on Wednesday (19) the creation of Nucoin, its digital currency, on the Polygon blockchain network. The forecast is that the coin is released in the first half of 2023, with fintech tokens distributed free of charge to customers. The tokens will serve as a basis for Nubank to create a benefits program for its Brazilian users.
Polygon, a blockchain company, will provide the technology and technical support for Nubank to develop its cryptocurrency – which at first is a token. The fintech partner uses the structure Ethereum to allow the creation of decentralized applications.
Nubank customers will participate in tests
At the press releaseNubank announced that it will invite around 2,000 customers to “participate in the use process and dynamics related to Nucoin”.
The invitations will take place throughout October and November, using as selection criteria the level of engagement of NuCommunity users, an online space dedicated to communicating with customers; and in the use of Nubank products and services.
Whoever is selected will enter an exclusive area in NuCommunity itself. In addition to feedback, the “conversation” phase with customers also serves to “explore a decentralized product creation process” which, as highlighted by fintech, is a feature of Web3.
“We are opening a door to the future. Nucoin is a new way to recognize customer loyalty and encourage engagement with Nubank products”, says Fernando Czapski, Nucoin leader. “This project is another step that we take because we believe in the transformative potential of blockchain technology and to democratize it even more, going beyond the purchase, sale and maintenance of cryptocurrencies in our application”, he explains.
According to Nubank, the purpose of creating a cryptocurrency is “to offer customers benefits such as discounts and perks as they accumulate Nucoins”. The company also plans, in the future, trade Nucoin on the cryptocurrency market.
Companies and blockchains
By creating a loyalty program in partnership with Polygon, fintech joins the pace of other large companies that are using blockchain technology in their business. In March, Adobe announced that its Behance social network would support NFTs — including those built into Polygon’s system.