- PNC clients can now buy, sell, and hold crypto directly via accounts linked with Coinbase.
- The new partnership will reduce friction in crypto trading and explore broader use cases.
- CEO Demchak confirmed PNC’s intent to join a future stablecoin consortium under the new U.S. law.
PNC Financial Services Group has teamed up with Coinbase Global Inc. to provide its banking customers direct access to digital currency services. This move represents a major change for the Pittsburgh-based bank, which will leverage Coinbase’s Crypto-as-a-Service platform to enable crypto trading within its platform.
The initial rollout focuses on PNC’s wealth and asset management clients, who can buy, sell, and hold cryptocurrencies without leaving their PNC accounts. According to Emma Loftus, head of treasury management at PNC, the integration is designed to meet the increasing demand from clients seeking easier access to digital assets.
PNC aims to leverage its existing financial infrastructure along with Coinbase’s brokerage and custodial tools. Loftus explained that the service intends to reduce friction in trading while exploring broader commercial and corporate use cases for blockchain-based financial solutions.
The partnership also includes PNC providing certain banking services to Coinbase, including treasury management, and the collaboration supports the bank’s broader digital innovation strategy amid increasing institutional interest in cryptocurrency.
Regulatory Support Encourages Industry Participation
The announcement follows President Donald Trump signing the GENIUS Act into law, establishing the first federal framework for stablecoins. The legislation clarifies regulations for digital assets and has prompted traditional banks to consider crypto solutions.
PNC CEO William Demchak reaffirmed the bank’s commitment to participating in stablecoin development. During a recent earnings call, Demchak indicated that future projects would likely involve an industry-led consortium, adding that PNC “would clearly be part of that.”
The regulatory shift follows bipartisan agreement in Congress to modernize outdated banking laws, enabling financial institutions to enhance services in digital finance. It also shows an increasing agreement that rather than excluding it, digital assets should be incorporated into the established financial system.
Other large banks, such as JPMorgan, Citigroup, and the Bank of America, have also reported their plans to explore or launch stablecoin services, which has placed PNC in a favourable position.
Related: U.S. Banks Urge OCC to Slow Down Crypto Trust Charters
Coinbase Partnership Signals Institutional Crypto Growth
The central part of the PNC crypto initiative is Coinbase’s involvement in the deal. According to Brett Tejpaul, the institutional head at Coinbase, the collaboration gives PNC a stable and expandable platform to offer digital assets. He reiterated that the Coinbase infrastructure is designed to accommodate institutional adoption and regulatory compliance.
The collaboration with Coinbase will allow PNC to add crypto to its current banking networks to permit custodial storage, trading, and future solution capabilities in payments. The firm’s crypto-as-a-service platform enables such integrations to accommodate banks that want a compliant entry point to the crypto market.
Loftus noted that although crypto payments and treasury management use cases are still in the early stages, PNC is actively monitoring adoption trends. The bank anticipates that future demand will grow for settling transactions with stable digital currencies as blockchain adoption expands across commercial markets.
The declaration by PNC follows the digital assets gaining momentum. According to CoinGecko estimates, Bitcoin rose by 21% in the past month, whereas Ethereum and XRP have increased even more. These developments have reignited institutional investors’ interest in digital assets.
As of Q2 2025, PNC manages over $421 billion in client assets, suggesting that the bank’s move into the crypto space could accelerate mainstream adoption. The decision has strong regulatory backing, and Coinbase’s infrastructure indicates a trend toward wider institutional acceptance of blockchain-based finance.
