PNC Bank to Offer Crypto Services Through Coinbase Partnership

Pittsburgh-based financial services corporation PNC Bank has announced adding Coinbase’s Crypto-as-a-Service platform, enabling customers to buy, hold and sell crypto.

The crypto move announced on Tuesday said that PNC will also offer “best-in-class” banking services to Coinbase. The PNC-Coinbase deal comes amid growing demand for regulated crypto offerings.

“This collaboration enables us to meet growing demand for secure and streamlined access to digital assets on PNC’s trusted platform,” said William S. Demchak, CEO of PNC Bank.

PNC Bank has become one of the largest American banks to launch crypto services at large. Following years of cautious approach, US banks are increasingly embracing crypto, signalling steps toward deeper integration of digital assets in mainstream portfolios.

“Traditional finance is slowly waking up to crypto’s call and is vying for a piece of the pie,” Gadi Chait, Xapo Bank’s Investment Manager, told Cryptonews.

PNC Bank did not disclose the timeline for its crypto launch.

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