According to materials from the site - By Cointelegraph

PNC Bank plans to offer its customers cryptocurrency services as part of a new partnership with Coinbase following the signing of federal cryptocurrency legislation.

PNC Bank announced its transition to the cryptocurrency market on Tuesday. With the support of Coinbase, the American bank will provide its customers the ability to buy, sell, and store digital assets without leaving their accounts.
This move will be made possible through Coinbase's 'crypto as a service' platform. In turn, PNC Bank will offer Coinbase some of its banking services.

In his statement, PNC Chairman and CEO William Demchak said that the partnership with Coinbase accelerates the bank's provision of 'crypto financial solutions to [its] customers.' The bank referred to the growing demand for access to digital assets on its platform.

According to the second quarter 2025 earnings report, at the end of the quarter, PNC Bank managed client assets totaling $421 billion. The company serves both retail and institutional clients, including corporations and government agencies.
According to Google Finance data, shares of PNC Financial Services Group, the parent company of PNC Bank, rose by 0.59% on Tuesday at the time of publication.

Coinbase's 'crypto as a service' platform offers institutions custodial, brokerage, and payment services. The partnership was established just days after U.S. President Donald Trump signed the GENIUS Act, regulating stablecoins and their issuers in the United States.

PNC Bank's entry into the cryptocurrency market comes against the backdrop of increasing reliance of financial institutions, including banks, on digital assets.

On July 15, traditional banks JPMorgan Chase and Citigroup announced plans to enter the stablecoin market — cryptocurrencies pegged to fiat currencies. On Wednesday, Bank of America announced its intention to enter the stablecoin market.
These steps are being taken amid increased regulatory clarity in the U.S. and rising prices of some cryptocurrencies. According to CoinGecko, in the past month, Bitcoin (BTC) has risen by 21%, Ethereum (ETH) by 70%, and XRP (XRP) by 81%.
Currently, Congress is considering a market structure bill that could lead to greater clarity in the regulation of crypto assets, which would give cryptocurrency companies and institutions more confidence regarding Web3 in the U.S.

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