PNC Bank has announced a partnership with Coinbase to offer cryptocurrency services to both its retail clients and institutional investors.
Through this collaboration, Coinbase’s Crypto-as-a-Service platform will allow PNC customers to buy, sell, and hold cryptocurrencies directly through their bank accounts. Additionally, PNC will provide select banking services to Coinbase, enhancing the operational synergy between the two firms.
William Demchak, CEO of PNC, expressed enthusiasm about the partnership, stating, “This collaboration enables us to meet the increasing demand for secure and streamlined access to digital assets through PNC’s trusted platform.”
Brett Tejpaul, head of Coinbase Institutional, also voiced his excitement, saying, “We’re delighted to facilitate PNC’s entry into the digital asset marketplace with our advanced Crypto-as-a-Service platform, equipping them with a robust set of tools to establish a scalable, high-growth business anchored in unwavering security.”