PNC Bank announced a partnership with Coinbase to let eligible corporate and institutional clients receive payments in Circle-issued USDC, with funds automatically converted into U.S. dollars upon receipt, according to Reuters as cited by PANews on November 9, 2026.
The service was set to begin as a limited pilot. PNC and Coinbase said it could help businesses receive funds sooner and speed up settlement of cross-border transactions. Those benefits were the companies’ stated expectations, rather than reported results from the pilot.
Tom Lang, PNC’s head of treasury management products and operations, said the immediate aim was to test the service with clients and determine which stablecoin features were useful to them.
The arrangement builds on an existing relationship. PANews reported that PNC had begun offering clients cryptocurrency trading through Coinbase’s “crypto-as-a-service” platform the previous year and also provided banking services to Coinbase.
Original source: PANews, citing Reuters. Published November 9, 2026, at 22:12:04 (UTC+8).