Warren Buffett Bank To Launch Its Own Cryptocurrency On The Polygon Network

• Nubank announces the release of Nucoin token 
• It will be used in the loyalty program
• Coin holders will receive discounts and other privileges

Brazilian fintech startup Nubank has announced its cryptocurrency, albeit only for customers in Brazil. In 2023, they will release the native Nucoin token.

Loyalty Token

Judging by the press release, Nucoin will be used in the loyalty program. Holders of such tokens will receive discounts on banking services and other benefits. The company will involve 2000 of its clients in testing the project.

Nucoin will run on the Polygon network. Interestingly, this protocol has recently been “overgrown” with profitable projects. Mercedes Benz recently chose this blockchain to develop a data exchange system. And Soyuzmultfilm will grow games at Polygon and mint NFT.

Banking startup Nubank is famous for being invested in by the “Oracle of Omaha “, Warren Buffett. He invested $500 million in it and helped raise capital from other investors.

The millionaire himself speaks negatively about cryptocurrencies and compares them with rat poison. But one way or another, he became a part of the blockchain industry, albeit not directly.

In a word, in February, Buffett sold part of the shares of Visa and MasterCard. He additionally invested the money he received in shares of Nubank A ($1 billion).

We can conclude that the legendary financier gradually refuses to invest in companies from the TradFi sphere. And focuses on fintech startups related to cryptocurrencies.