Buffett-backed Nubank will launch cryptocurrency in Brazil

Nubank, a digital banking company in Brazil, will release its own cryptocurrency there next year

Nubank announced on Wednesday that it will release the Nucoin token in the first half of 2023

Nubank said it plans to give token holders discounts and other perks

Nubank's cryptocurrency isn't the first. JPMorgan launched JPMCoin, a stablecoin pegged to the dollar

PayPal and Robinhood trade cryptocurrencies. Goldman Sachs' internal crypto trading desk

Nubank debuted in 2013 in Sao Paulo, Brazil, known for its high-fee, low-tech banking system

Nubank had previously gone into crypto through its Nucripto platform, which facilitates trading in bitcoin and ether