PNC Bank has taken a major step into digital assets by rolling out direct bitcoin trading for its Private Bank clients. The move, unveiled this week, places the institution among the first major U.S. banks offering integrated crypto trading inside its digital platform. The launch builds on rising client demand for digital assets and reflects a growing shift toward regulated crypto services.
Moreover, the development shows how established banks now seek controlled ways to offer crypto exposure without sending clients to outside exchanges. PNC delivered the feature with support from Coinbase’s Crypto-as-a-Service platform, which now powers trading, custody, and security functions.
Coinbase Infrastructure Powers PNC’s New Crypto Channel
According to the press release, PNC selected Coinbase’s infrastructure to support seamless trading and custody within its Private Bank Online platform. The system lets eligible clients buy, sell, and hold bitcoin without leaving PNC’s ecosystem.
Besides improving convenience, the integration creates a clearer oversight process for high-net-worth households managing large portfolios. Clients can monitor their digital holdings through Portfolio View, which now includes crypto positions.
William S. Demchak, chairman and chief executive officer of PNC, said the bank must offer solutions that match evolving expectations. He stated, “Our responsibility is to offer secure and well-designed options that fit within the broader context of their financial lives.” He added that clients want trusted channels as they explore digital markets, and PNC intends to deliver those channels inside its own environment.
Coinbase Sees Growing Collaboration With Traditional Finance
Coinbase executives described this launch as part of a broader shift among U.S. financial institutions. Brett Tejpaul, co-CEO of Coinbase Institutional, said, “This collaboration demonstrates how traditional financial institutions and on chain-native companies can work together to expand access to digital assets in a safe and compliant way.” He called PNC’s approach measured and disciplined as more banks consider similar offerings.
Additionally, PNC plans to widen access to more customer groups in phases. The bank also expects to introduce new crypto-related features as clients request broader capabilities. Hence, the launch marks an early stage in a longer strategy aimed at integrating digital assets into traditional wealth management.