 
 
PNC Financial Services Group, which ranks among the largest US banks by assets, deposits, loans, and branch network, struck a partnership with Coinbase to offer its banking and institutional clients access to cryptocurrency services.
This collaboration signals rising institutional interest in crypto following the signing of federal crypto legislation.
PNC To Launch Crypto Trading
PNC Bank announced its bold crypto move on July 22.
The partnership will use Coinbase’s “Crypto-as-a-Service” platform to let PNC customers buy, hold, and sell digital assets securely without logging out of their accounts. In turn, Coinbase will gain access to one of the biggest banks in the U.S. and its extensive network of institutional customers, deepening the operational ties between the two companies.
“Partnering with Coinbase accelerates our ability to bring innovative, crypto financial solutions to our clients,” said William Demchak, PNC chairman and CEO, in a statement. “We will also provide PNC’s best-in-class banking services to Coinbase.”
 
The bank cited a growing demand for access to digital assets on its trusted platform.
Coinbase Institutional head Brett Tejpaul added that the Crypto-as-a-Service infrastructure will let the bank establish a scalable, security‑first crypto offering for PNC’s 12 million customers.
“PNC is a market leader in delivering best-in-class products for their clients,” said Tejpaul. “We’re thrilled to support their entry into the digital asset market with a platform built on uncompromising security.”
The partnership, which has been in the making since 2021, provides PNC with a ready path into crypto without requiring them to directly custody assets or register as a crypto broker, possibly circumventing regulatory intricacies.
PNC Joins Other Wall Street Giants In Crypto Fervour
PNC’s foray into crypto comes as legacy financial institutions push deeper into digital assets amid the growing push for regulatory clarity.
Standard Chartered recently launched spot Bitcoin and Ether trading for institutional clients. JPMorgan CEO Jamie Dimon announced last week that the bank “will be involved” with stablecoins to remain competitive, even as he questioned why anyone would use a stablecoin instead of traditional payment rails.
Bank of America is also in the early stages of exploring stablecoins to enhance its payment infrastructure. These moves come days after US President Donald Trump signed the landmark GENIUS Act into law, a bill that standardizes rules for a U.S. dollar-pegged stablecoin industry with over $250 billion in circulation.
And on Tuesday, The Financial Times reported that JPMorgan is planning to start lending its clients directly against crypto assets like Bitcoin and Ethereum.
Source: https://zycrypto.com/pnc-teams-up-with-coinbase-to-bring-crypto-trading-and-custody-services-to-its-clients/