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PNC Pilots USDC Payments for Corporate Clients With Coinbase

The bank is testing whether USDC on the Ethereum blockchain can speed business payments by converting incoming tokens into dollars for deposit.

Overview

  • PNC launched a limited pilot that lets eligible corporate and institutional clients receive USDC stablecoin payments on the Ethereum network, with Coinbase providing the payment infrastructure.
  • Incoming USDC is automatically converted one-for-one into U.S. dollars and deposited into designated PNC accounts to preserve traditional fiat liquidity for businesses.
  • The pilot announced Nov. 9 builds on PNC’s existing Coinbase integrations from 2025 and aims to shorten the time between payment receipt and usable funds for treasury teams.
  • PNC and Coinbase say the test is designed to evaluate speed, cross-border efficiency, client utility and operational controls while keeping compliance and liquidity risks inside the bank’s systems.
  • Wider availability, pricing, supported corridors and regulatory or operational outcomes remain undecided and will depend on pilot results and client demand.