Coinbase, the largest cryptocurrency exchange in the US, announced a partnership with PNC Bank, the ninth largest bank in the US by assets.
Accordingly, under the partnership, PNC Bank will allow its private clients to trade spot Bitcoin (BTC) through the Coinbase Cryptocurrency-as-a-Service (CaaS) platform.
The statement stated that this collaboration will provide seamless Bitcoin access by combining PNC’s expertise as one of the 10 largest financial institutions in the United States with Coinbase’s secure and scalable infrastructure.
With the partnership, PNC Private Bank customers can now buy, sell and hold Bitcoin directly through their accounts on PNC's digital banking platform.
This integration eliminates the need to maintain accounts on separate exchanges, providing a seamless and secure experience within a trusted banking environment.
This makes PNC Bank the first major U.S. bank to support such a proposal.
“Today marks a significant milestone for institutional crypto adoption.
Eligible PNC Bank customers now have access to Bitcoin trading directly within their banking experience.
Coinbase's Crypto-as-a-Service platform allows PNCBank to directly initiate Bitcoin trading for its customers.
PNC Bank is the first major U.S. bank to enter the market with such an offering.
*This is not investment advice.
