PNC Bank and Coinbase pilot USDC payments for corporate clients
PNC Bank and Coinbase have launched a pilot program allowing eligible corporate and institutional banking clients to accept USDC payments that convert directly into U.S. dollar bank deposits.
PNC Bank and Coinbase have expanded their partnership to test stablecoin payment processing for corporate and institutional banking clients. Under the pilot program, eligible corporate participants can receive payments in USDC, which are transferred over the Ethereum blockchain and automatically converted 1-to-1 into U.S. dollars before being deposited into designated PNC bank accounts.[2][3][4][5][10]
The setup relies on Coinbase Payment APIs to handle stablecoin infrastructure, while PNC provides treasury management, bank accounts, and client relationships. According to the companies, the initiative aims to speed up business settlements and improve the efficiency of cross-border transfers while preserving clients' existing bank payment options.[2][7][8][10]
The trial builds on a July 2025 collaboration in which PNC agreed to supply banking services to Coinbase and plan crypto trading features for eligible PNC Private Bank clients. The companies described the current pilot as limited to select clients, with no timeline disclosed for wider expansion.[2][9][10]
Key facts
- PNC Bank and Coinbase launched a pilot program letting select corporate and institutional clients accept USDC payments.
- Incoming USDC on the Ethereum blockchain is converted 1-to-1 into U.S. dollars and deposited directly into PNC accounts.
- The stablecoin infrastructure for the pilot is powered by Coinbase Payment APIs.
- The pilot builds upon an earlier July 2025 partnership involving banking services and digital asset trading for PNC Private Bank clients.
- Neither PNC Bank nor Coinbase announced a date for when the pilot might expand to a broader client base.
Sources · 10 sources
- TW
The Wolf Of All Streets@scottmelkerPost on X ·
PNC BANK LAUNCHES A PILOT LETTING CORPORATE CLIENTS RECEIVE $USDC PAYMENTS THROUGH COINBASE $COIN, CONVERTED 1-TO-1 INTO US DOLLARS https://t.co/zVt3FsiRmu
Open source - WB
Wu Blockchain@WuBlockchainPost on X ·
Eighth-Largest U.S. Bank PNC Partners With Coinbase to Pilot USDC Payments for Corporate Clients PNC Bank and Coinbase announced an expanded partnership on November 9 to pilot USDC payment acceptance for corporate and institutional banking clients. Eligible participants can receive USDC payments, which are automatically converted 1:1 into U.S. dollars and deposited into designated PNC bank accounts. The service is powered by Coinbase Payment APIs and aims to improve payment efficiency, including for cross-border transactions. The pilot is initially limited to select clients. The two firms previously partnered to offer digital asset trading to eligible PNC Private Bank clients.
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: Coinbase and PNC Bank expanded their partnership to let eligible corporate and institutional clients receive USDC payments through a new pilot program. Incoming USDC payments are automatically converted into U.S. dollars and deposited into clients' PNC bank accounts. https://t.co/NMu3DcXEPc
Open source - CO
CoinDesk@CoinDeskPost on X ·
JUST IN: @PNCBank launches incoming $USDC payments for corporate and institutional clients via @Coinbase, initially on a pilot basis on the Ethereum blockchain. https://t.co/ommaupRhwF
Open source - CT
Coin TelegraphArticle ·
PNC Bank tests turning USDC payments into dollar deposits The pilot lets eligible corporate and institutional clients accept USDC on Ethereum, with each token converted to one US dollar before deposit.
Open source - TB
The BlockArticle ·
Coinbase and PNC Bank expand partnership with USDC payments for corporate clients PNC Bank is piloting USDC payment acceptance for corporate and institutional clients through its expanded partnership with Coinbase.
Open source - CN
crypto.news@cryptodotnewsPost on X ·
JUST IN: PNC Bank taps Coinbase for stablecoin payments The $410 billion U.S. banking giant will let eligible corporate and institutional clients receive Circle’s USDC, automatically converted into U.S. dollars, through a pilot designed to speed up business payments and cross-border transfers.
Open source - CB
Crypto Briefing@Crypto_BriefingPost on X ·
💥 NEW: PNC and Coinbase are piloting a stablecoin payments service that aims to give businesses faster access to funds and quicker cross-border transfers. https://t.co/rcyE1HC8vj
Open source - LS
Laura Shin@laurashinPost on X ·
PNC and Coinbase are expanding a partnership that began with crypto trading for PNC Private Bank clients. Now eligible PNC business clients in a pilot can get paid in USDC. https://t.co/hWefh6LAhq
Open source - UN
UnchainedArticle ·
PNC Bank Lets Corporate Clients Accept USDC Payments in New Coinbase-Powered Pilot PNC Bank has opened a pilot that lets eligible clients of its Corporate and Institutional Banking unit get paid in USDC , a stablecoin backed by U.S. dollars, with Coinbase supplying the technology behind it, the two companies announced on Monday. When a participating client receives USDC, the tokens are converted 1-to-1 into dollars automatically and deposited into a designated PNC account, according to Coinbase’s post. The USDC travels on the Ethereum blockchain, PNC said . Coinbase’s Payment APIs (application programming interfaces, the software hooks other firms plug into) handle the stablecoin side. PNC contributes the bank account, its treasury management services and its existing corporate client relationships. Corporate use of stablecoins is still a small slice of the market. “The enterprise adoption of stablecoins is still minuscule,” Nick van Eck , CEO and co-founder of stablecoin company Agora, said on Unchained’s Bits + Bips in October. By his count, business-to-business payments made in stablecoins came to about a quarter of a trillion dollars last year. Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . A Limited Pilot PNC is starting small, offering the service only on a limited basis to eligible clients in a pilot program, the bank’s release says. “Our clients are continually looking at new ways to interact and transact with customers, suppliers and business partners,” Tom Lang , head of Treasury Management Product and Operations at PNC Bank, said in PNC’s release. Coinbase’s post pitches two benefits for businesses: getting at their money sooner and moving funds across borders more efficiently. The bank’s existing faster payment options stay in place, and USDC becomes one more way for clients to collect. Alec Lovett , head of Infrastructure Products at Coinbase, said in PNC’s release that the work with PNC “shows how leading banks and trusted digital asset infrastructure come together to let corporate clients take advantage of this technology.” Second Deal Between the Two The pilot builds on an earlier arrangement. The two companies first partnered in July 2025, when PNC agreed to provide some banking services to Coinbase and said it would build a product letting its clients buy, hold and sell crypto on Coinbase’s crypto-as-a-service platform. Coinbase also framed the new pilot as a template for how other banks could add stablecoins to services they already offer, using its infrastructure. Neither company said when the pilot might open to more clients. Related Listen: Why Banks Failed to Kill Stablecoin Rewards in the Clarity Act The post PNC Bank Lets Corporate Clients Accept USDC Payments in New Coinbase-Powered Pilot appeared first on Unchained .
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