Coinbase and PNC Bank team up to offer crypto to bank clients

PNC Bank, a top regional banking provider in the United States, and Coinbase, the largest US-based cryptocurrency exchange, have announced a strategic partnership that will see the bank’s customers access cryptocurrencies via their accounts.

The partnership between Coinbase and PNC Financial Services Group will allow PNC clients to to buy, sell and hold crypto through their bank’s account. 

Collaboration between the two market giants, with PNC the seventh-largest bank in the country, comes amid a growing foray into the digital assets ecosystem by major banks and other financial markets behemoths. 

PNC plans to tap into Coinbase’s Crypto-as-a-Service solution to allow the bank to secure and scale its crypto offering, with clients able to buy, hold and sell Bitcoin and cryptocurrencies directly with their PNC accounts.

Big news for PNC Bank clients

Coinbase shared the huge news via its X account, with the initiative also capturing headlines from mainstream media. 

Brett Tejpaul, head of Coinbase Institutional, also commented on the partnership as one that will benefit both the crypto exchange and PNC.

The deal supports PNC’s entry into the crypto market, with the bank set to leverage the exchange’s suite of crypto tools and solutions to bring the best of cryptocurrency to a growing clientele.

In a comment, PNC chairman and chief executive officer William Demchak said: 

Crypto-friendly US

PNC Financial Services Group, Inc. is a publicly-listed company on the New York Stock Exchange. It offers diversified financial services via various institutions in the US.

Notably, its retail and business banking solutions include asset-based lending products, corporate banking, real estate finance and wealth management.

Banks and large financial institutions continue to embrace crypto.

Overall optimism has surged as the regulatory landscape in the US shifts markedly from what it was during the four years of Joe Biden’s administration. 

One of the moves is banking regulators softening their stance on banks engaging in crypto activities.

Fresh regulations such as the GENIUS Act are also encouraging Wall Street, with cryptocurrencies recently rallying amid the exuberance.

All this comes as the US looks to become the crypto capital of the world under President Donald Trump.