PNC Bank, one of the largest banks in the U.S., has announced a partnership with Coinbase, enabling customer access to cryptocurrencies.
How the Coinbase Partnership Improves Access to Cryptocurrency
The recent partnership with Coinbase will allow PNC customers to easily buy, sell, and hold cryptocurrency directly through their bank accounts. Initially, the service will be available to clients in wealth and asset management, with plans to expand to a broader customer base.
Shifting Banks’ Perceptions of Cryptocurrency
Just a few months ago, banks were cautious regarding cryptocurrencies, but recent regulatory changes from the Federal Reserve and FDIC have opened doors for such partnerships as with PNC. Leading financial institutions like JPMorgan and Citibank are also exploring digital asset alternatives.
Coinbase Expands through Crypto-as-a-Service
Coinbase continues to play a pivotal role in integrating traditional banks into the cryptocurrency market. Its Crypto-as-a-Service platform provides the necessary tools for trading, custody, and payment technology, enabling banks to quickly and securely offer cryptocurrency services.
PNC Bank’s entry into cryptocurrency through the partnership with Coinbase emphasizes the growing interest of banks in digital assets and responds to client demands for easy access to cryptocurrencies.
