PNC Teams Up With Coinbase To Bring Crypto Trading And Custody Services To Its Clients
Main Idea
PNC Financial Services Group partners with Coinbase to offer crypto trading services to its customers, joining other major banks in expanding into the cryptocurrency market.
Key Points
1. PNC Bank announced a partnership with Coinbase to launch crypto trading services using Coinbase’s 'Crypto-as-a-Service' platform.
2. The service will be available to PNC’s 12 million customers and institutional clients, enhancing their digital asset offerings.
3. The partnership has been in development since 2021 and aims to provide secure and best-in-class crypto services.
4. PNC joins other Wall Street giants like Standard Chartered and JPMorgan in expanding into the crypto market amid increasing regulatory clarity.
5. The move follows the signing of the GENIUS Act, which standardizes rules for the stablecoin industry in the U.S.
Description
PNC Financial Services Group, which ranks among the largest US banks by assets, deposits, loans, and branch network, struck a partnership with Coinbase to offer its banking and institutional clients access to cryptocurrency services. This collaboration signals rising institutional interest in crypto following the signing of federal crypto legislation. PNC To Launch Crypto Trading PNC
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