PNC’s Coinbase Pilot Turns Incoming USDC Into Business Bank Deposits

TL;DR: PNC’s limited pilot lets eligible businesses receive Ethereum-based USDC, automatically converted into dollars. Coinbase supplies the payment infrastructure. PNC’s new stablecoin pilot addresses a practical business question: can a company accept a digital-dollar payment without deciding to hold digital assets? In its November 9 announcement , the bank says eligible Corporate & Institutional Banking clients can receive USDC and have it converted one-for-one into US dollars. The service initially operates on a limited pilot basis. PNC identifies Ethereum as the supported blockchain for incoming payments. That detail matters because the name of a stablecoin alone is not enough to identify a valid payment route. The receiving business ends with dollars The converted funds go into a designated PNC deposit account.

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