PNC Bank Partners Coinbase to Offer Crypto Services

In a massive development, PNC Bank is the latest major U.S. financial institution to jump on the crypto wave. The $549 billion AuM banking giant, which ranks as the seventh-largest U.S. bank, has partnered with crypto exchange, Coinbase, to expand its client offerings to include digital asset services.

PNC Bank Enters Strategic Partnership With Coinbase

In a press release, the banking giant announced that it has entered into a strategic partnership with Coinbase, aimed at expanding access to digital asset solutions for its banking clients and institutional investors.

Furthermore, PNC Bank will provide specific banking services to the top crypto exchange. The bank stated that this partnership combines its legacy of client service and innovation with the institutional-grade infrastructure of Coinbase’s Crypto-as-a-Service (CaaS) platform to help power “secure, scalable crypto access” for its clients.

Additionally, both firms plan to work together to develop an initial offering that will allow its 9 million clients to trade crypto assets. Commenting on the deal, PNC Chairman and CEO William Demchak said,

Partnering with Coinbase accelerates our ability to bring innovative, crypto financial solutions to our clients. We will also provide PNC’s best-in-class banking services to Coinbase. This collaboration enables us to meet growing demand for secure and streamlined access to digital assets on PNC’s trusted platform.

Meanwhile, PNC Bank joins a growing list of major traditional financial institutions that are expanding their services to include cryptocurrency offerings for their clients. As CoinGape earlier reported, JP Morgan, the largest U.S. Bank, is exploring offering Bitcoin and Ethereum-backed loans to its clients.

✓ Share:

Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several niches. His speed and alacrity in covering breaking updates are second to none. He has a knack for simplifying the most technical concepts and making them easy for crypto newbies to understand.

Boluwatife is also a lawyer, who holds a law degree from the University of Ibadan. He also holds a certification in Digital Marketing.

Away from writing, he is an avid basketball lover, a traveler, and a part-time degen.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.