PNC launches USDC payments pilot for corporate clients using Coinbase

PNC Bank has introduced a new pilot service enabling corporate and institutional clients to receive payments in USDC, which are automatically converted into dollars and deposited directly into their PNC accounts. This initiative, launched using Coinbase’s payment infrastructure, marks a significant step in experimenting with blockchain-based solutions for conventional business payments while keeping end-user experiences unchanged. The pilot is limited to selected clients and does not represent a universal rollout across all accounts. A business that participates in the program can receive incoming USDC transfers on the Ethereum blockchain. These are then converted at a one-to-one ratio into US dollars before being credited to the client’s designated account at PNC. This process is intended to create faster and more flexible payment channels, especially for cross-border transactions.

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