Overview

• PNC Bank and Coinbase announced on July 22 an early-stage alliance to integrate Coinbase’s Crypto-as-a-Service platform into PNC’s infrastructure.
• Under the deal, PNC clients will be able to buy, hold and sell cryptocurrencies directly through their existing bank accounts via Coinbase’s CaaS offering.
• PNC will support Coinbase with deposit accounts, treasury management and other core banking products to bolster the exchange’s financial resilience.
• The two firms plan to roll out PNC’s first crypto services in the coming months as digital assets reach new highs.
• The American Bankers Association and Independent Community Bankers of America have petitioned the Office of the Comptroller of the Currency to delay consideration of national trust charters for crypto firms.