Banking Giant PNC Wades Into Crypto Trading
Main Idea
PNC Bank is expanding into cryptocurrency trading, reflecting a broader trend of U.S. banks engaging with the crypto sector amid regulatory shifts.
Key Points
1. PNC Bank, with around $400 billion in deposits, is entering the crypto trading space, joining other U.S. banking giants like JPMorgan.
2. PNC previously adopted Ripple's xCurrent cross-border payment system in 2018, becoming the first U.S. bank to do so.
3. PNC's crypto trading plans have been in development since 2021, with CEO Bill Demchak stating the platform was 'built and ready' but delayed due to regulatory uncertainty.
4. PNC has increased its stake in the Bitwise Bitcoin ETF (BITB), indicating institutional Bitcoin exposure.
5. The move aligns with the U.S. government's increasing embrace of the crypto sector, though regulatory challenges remain.
Description
PNC is set to finally offer cryptocurrency trading after previously postponing the plans due to regulatory uncertainty
Latest News
- CZ Reacts to BNB Hitting New Record High2025-07-23 07:46:24
- ‘Bizarre’: ETF with XRP Exposure Hits Major SEC Roadblock2025-07-23 06:14:46
- XRP Price to $6 Now Possible, Rich Dad Poor Dad' Author Warns of Bitcoin Crash, $206 Million In Solana Leaves Coinbase: Crypto News Digest2025-07-23 03:43:47
- sh2025-07-23 00:12:55
- CME: XRP Futures Secure New Record2025-07-22 20:12:49