Eighth-largest US bank PNC is partnering with Coinbase to test USDC payments for corporate customers.
PNC Bank and Coinbase announced an expanded partnership on November 9 to test accepting USDC payments for corporate and institutional banking customers. Eligible participants can receive USDC payments, which are automatically converted 1:1 to US dollars and deposited into designated PNC bank accounts. The service is powered by Coinbase Payment APIs and aims to improve payment efficiency, including for cross-border transactions. The pilot is initially limited to selected customers. The two companies previously partnered to offer digital asset trading to eligible PNC Private Bank customers.