PNC Bank is set to offer crypto services to clients through a new partnership with Coinbase, following the signing of federal crypto legislation.
PNC Bank announced its crypto move on Tuesday. With Coinbase support, the US bank will offer its clients the ability to buy, sell and hold digital assets without logging out of their accounts.
The move will be made possible through Coinbase’s Crypto-as-a-Service platform. In turn, PNC Bank will offer Coinbase some of its banking services.
In a statement, PNC Chairman and CEO William Demchak said that partnering with Coinbase speeds up the bank’s ability to bring “crypto financial solutions to [its] clients.” The bank cited a growing demand for access to digital assets on its platform.
According to its Q2 2025 earnings report, PNC Bank had $421 billion in client assets under management at the end of the quarter. It serves both retail and institutional clients, including corporations and government agencies.
PNC Financial Services Group, the parent company of PNC Bank, was up 0.59% on the day Tuesday at time of publication, according to Google Finance.
Coinbase’s Crypto-as-a-Service platform offers custodial, brokerage and payment services for institutions. The partnership comes days after US President Donald Trump signed the GENIUS Act into law, a bill that regulates stablecoins and their issuers in the United States.
Related: PNC Bank Using Ripple XCurrent — Is Interest in Blockchain Rising?
PNC Bank joins other institutions in crypto fervor
PNC Bank’s entrance into the crypto market comes as financial institutions, including banks, are becoming increasingly tied to digital assets.
On July 15, traditional banks JPMorgan Chase and Citigroup announced plans to be involved in stablecoins — cryptocurrencies pegged to a fiat currency. On Wednesday, Bank of America announced its stablecoin move.
The moves come amid increased regulatory clarity in the United States and a bullish uptick for certain cryptocurrencies. Over the past month, Bitcoin (BTC) is up 21%, Ether (ETH) 70%, and XRP (XRP) 81% according to CoinGecko.
Congress is currently weighing a market structure bill that could lead to more regulatory certainty for crypto assets, giving crypto companies and institutions more confidence about Web3 in the US.
Magazine: Bitcoin vs stablecoins showdown looms as GENIUS Act nears
