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Buffet-backed Nubank to Launch ‘Nucoin’ Loyalty tokens on the Polygon Blockchain

Cointelegraph | Ana Paula Pereira  | Oct 19, 2022

Nubank   - Buffet-backed Nubank to Launch 'Nucoin' Loyalty tokens on the Polygon Blockchain

Image: Nubank

Nubank, a fintech bank in Brazil, announced the creation of the Nucoin token on the Polygon blockchain on Oct. 19, paving the way for a rewards program for its 70 million clients across Latin America. 

  • Loyalty tokens: The company said that the token will be available in the first half of 2023, and will recognize customer loyalty and engagement with the bank products without cost or fees for its users. The tokens can be redeemed for perks and discounts on selected products.
  • Crowdsourcing Web3 features with customers:  As of this month, approximately 2,000 clients will be invited to participate in a discussion of the project details, including the decentralized process of product creation and its Web3 features. "We decided to bring a group of customers into this co-creation process precisely to refine our product ahead of the public launch, to ensure we get to a program that truly resonates with our customers' expectations and needs," noted Czapski.

See:  Founded in Canada, Fintech NorthOne Closes CA$92.1 Million Series B to Serve Small Businesses in the U.S.

  • Buffett-backed:  Earlier this year, Warren Buffett's Berkshire Hathaway dumped a portion of its Visa and Mastercard holdings and increased exposure in Nubank, purchasing $1 billion worth of stocks after selling $3.1 billion worth of Visa and Mastercard stocks combined.

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NCFA Jan 2018 resize - Buffet-backed Nubank to Launch 'Nucoin' Loyalty tokens on the Polygon BlockchainThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org

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