PNC Bank, managing $549 billion in assets, has partnered with Coinbase to embed cryptocurrency trading services directly into its banking platform. This integration allows PNC clients to buy, sell, and hold digital assets like Bitcoin (BTC) and Ethereum (ETH) without leaving PNC's ecosystem, eliminating the need for third-party apps or separate logins.
Coinbase will provide the trading infrastructure, custody solutions, and its Coinbase as a Service (CaaS) platform to power the initiative. Initial rollout will focus on BTC and ETH, with PNC exploring commercial applications including crypto-based payments and treasury solutions. CEO William Demchak emphasized the partnership "accelerates our ability to bring innovative crypto solutions" to clients while maintaining regulatory compliance.
Emma Loftus, PNC's treasury management lead, highlighted growing corporate demand for crypto transactions. The collaboration signals deepening institutional adoption, following recent U.S. stablecoin legislation. Demchak confirmed PNC's intent to participate in industry-wide stablecoin initiatives as services expand.