Overview
- Eligible PNC Private Bank clients can buy, hold and sell bitcoin within PNC Private Bank Online using Portfolio View custody.
- The integration relies on Coinbase’s institutional Crypto-as-a-Service, with Coinbase handling custody, trade execution and compliance.
- The initial release supports bitcoin only, and PNC says it plans to widen access to more client segments and add capabilities in later phases.
- The service targets high- and ultra-high-net-worth clients served by PNC Private Bank’s network of more than 100 offices.
- PNC CEO William S. Demchak and Coinbase Institutional co-CEO Brett Tejpaul publicly endorsed the partnership, emphasizing security and a controlled client experience.