PNC to offer stablecoin payments to clients in Coinbase partnership
COIN•PNC and Coinbase will pilot stablecoin payments for corporate and institutional clients, who can receive Circle’s USDC converted automatically to U.S. dollars. The companies say the service could speed access to funds and cross-border transactions.
1. Limited pilot program
Eligible PNC clients will initially be able to receive payments in Circle’s USDC stablecoin, which will then be automatically converted to U.S. dollars. The companies said the service could provide quicker access to funds and speed cross-border transactions.
2. Testing with clients
PNC described the effort as a way to test and learn with clients. PNC previously tapped Coinbase to offer crypto trading to bank customers and said it would provide banking services to Coinbase.
