PNC Bank Partners With Coinbase To Enable USDC Stablecoin Payments for Institutional and Corporate Customers

A major US bank has started letting corporate clients receive stablecoin payments. PNC Bank says it is making incoming USDC payments available to eligible corporate and institutional panking clients, powered by Coinbase Payment products on the Ethereum blockchain. Coinbase Payments, offered by crypto exchange Coinbase, is a stablecoin payment solution built for commerce platforms. The payments are converted automatically 1-to-1 into US dollars and deposited into a designated PNC account. The bank says the service is meant to give businesses faster access to funds and greater efficiency on cross-border transactions. PNC is initially offering the service on a limited basis to eligible clients as part of a pilot program. It builds on the bank’s existing relationship with Coinbase.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to The Daily Hodl.