Crypto

PNC Bank pilots USDC payments with Coinbase for corporate clients

PNC Bank is testing a service that lets business clients accept USDC, a stablecoin, and receive dollars in a bank account. Coinbase runs the stablecoin side of the pilot.

Illustration: An isometric scene of a phone with a plain coin on screen, a card terminal and a small shop counter.
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PNC Bank is running a pilot with Coinbase that lets its business clients take payments in USDC. USDC is a stablecoin, a crypto token designed to stay close to the value of the US dollar. Under the setup, a USDC payment sent to a participating client is exchanged one-for-one into dollars.

The dollars then land in a deposit account at PNC, so the client holds a regular bank balance rather than the token. Coinbase handles the stablecoin part of the process, while PNC handles the account. For companies that already move money through a bank, the pilot shows one way crypto payments could fit into everyday banking.

The PNC Financial Services Group$229.75up +3.84%over 1 month
$233.45$214.9412 Oct10 Nov

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