PNC Bank has partnered with Coinbase to offer cryptocurrency services to its clients, starting with wealth and asset management clients. This partnership allows clients to buy, sell, and hold bitcoin through their PNC accounts. PNC will also offer banking services to Coinbase, leveraging both companies' strengths to meet the demand for secure access to digital assets. There is interest in potential use cases for commercial clients in the future, although current digital asset applications in payment functions remain underdeveloped.
"Partnering with Coinbase accelerates our ability to bring innovative, crypto financial solutions to our clients. We will also provide PNC's best-in-class banking services to Coinbase. This collaboration enables us to meet growing demand for secure and streamlined access to digital assets on PNC's trusted platform."
"This partnership with Coinbase enables us to explore where we think the market holds the most promise, where there's the most demand and frankly where our clients are really most interested in."
"As crypto becomes more ubiquitous at the point-of-sale or negotiated into contracts to purchase goods, being able to support our clients to be able to settle in that currency - for a lack of a better word - will be important, but that's not tomorrow."
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