PNC Brings USDC Payments to Institutional Banking Clients

PNC Financial institution, the eighth-largest US financial institution by assets, launched a restricted pilot enabling eligible company and institutional purchasers to obtain USDC funds via Coinbase.

The pilot accepts USDC, a US dollar-backed stablecoin issued by Circle, on Ethereum utilizing Coinbase Payments merchandise. Payments are routinely transformed into {dollars} and deposited into designated PNC accounts, permitting companies to settle for stablecoins with out holding them.

PNC stated the service goals to pace up entry to funds and enhance cross-border fee effectivity. The financial institution didn’t disclose charges, settlement-time benchmarks or the variety of collaborating purchasers, nor did it reply to Cointelegraph’s request for extra particulars by publication time.

The pilot builds on a partnership established in July 2025, when PNC agreed to provide cryptocurrency providers via Coinbase’s infrastructure whereas offering banking providers to the change. The partnership led to the launch of Bitcoin (BTC) buying and selling for eligible PNC Personal Financial institution purchasers in December.

PNC’s transfer follows an identical initiative by Citi, which expanded its Coinbase partnership in September to allow institutional purchasers to settle for stablecoin funds via its Spring by Citi platform, with Coinbase changing the funds into fiat foreign money.

USDC is the second-largest stablecoin by market capitalization, at $70.5 billion, behind Tether’s USDT at $176.8 billion, in accordance to DefiLlama data. The full stablecoin market stood at round $290.8 billion on Monday.

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