PNC Bank is broadening its collaboration with digital asset platform Coinbase Global, Inc. (COIN) to enable corporate and institutional accounts to accept payments in USDC, as stated in a release on Monday. This capability is rolling out first as a pilot initiative for qualified users.
The financial institution will seamlessly convert incoming USDC settlements into U.S. dollars at par value before crediting the money into the clients’ designated PNC accounts. This trial leverages Coinbase Payment APIs for digital currency processing alongside PNC treasury management and banking solutions. PNC noted that this addition will expand the rapid settlement alternatives currently accessible to enterprise users.
PNC’s growing Coinbase partnership
PNC initially revealed its alliance with Coinbase in July 2025, committing to utilize the exchange’s Crypto-as-a-Service platform while extending specific financial services to Coinbase. By December, the lender started delivering spot bitcoin trading access to qualified private wealth clients, permitting them to acquire and dispose of bitcoin straight through their current portfolio accounts.
Coinbase has similarly collaborated with alternative banking institutions regarding stablecoin transactions. In September, the firm widened its collaboration with Citi to bridge conventional fiat channels with stablecoins. This framework enables Coinbase users to leverage Citi’s Virtual Account Wallet for handling fiat receipts and administration, featuring automatic conversion to stablecoins. Citi institutional users can additionally process stablecoin transactions via its Spring network, utilizing Coinbase architecture to settle funds in fiat.
Earlier in the year, Coinbase additionally teamed up with payment processor Moov to introduce stablecoin processing, settlement, and instantaneous funding features to networks utilized by upwards of 1,000 credit unions and community banks by means of Coinbase custodial wallets and Payments APIs.
Originally published at https://www.theblock.co/news/business/2026-11-09-coinbase-pnc-bank-expand-partnership-with-usdc-payments-corporate-clients-436466.
