Traditional banking has taken another step toward stablecoin payments: PNC Bank is partnering with Coinbase to pilot the service for eligible business and institutional clients. They can receive payments in Circle’s USDC, which is automatically converted to U.S. dollars upon arrival.
The two companies say stablecoins arrive almost instantly, helping clients access funds sooner and speed up cross-border settlements. Tom Lang, PNC’s head of treasury products and operations, put it plainly: they’re testing the service with clients to see which features of stablecoins are genuinely useful. The service will initially be available in a limited pilot.
The move didn’t come out of nowhere: last year, PNC began offering clients crypto trading through Coinbase’s Crypto-as-a-Service and also started providing banking services to Coinbase. Alec Lovett, Coinbase’s head of infrastructure products, summed it up as the continued convergence of traditional finance and stablecoin infrastructure.
Note that this is a payments-receiving pilot, not a way to spend USDC freely at retail outlets.
$USDC #Coinbase #稳定币 #TradFi
The two companies say stablecoins arrive almost instantly, helping clients access funds sooner and speed up cross-border settlements. Tom Lang, PNC’s head of treasury products and operations, put it plainly: they’re testing the service with clients to see which features of stablecoins are genuinely useful. The service will initially be available in a limited pilot.
The move didn’t come out of nowhere: last year, PNC began offering clients crypto trading through Coinbase’s Crypto-as-a-Service and also started providing banking services to Coinbase. Alec Lovett, Coinbase’s head of infrastructure products, summed it up as the continued convergence of traditional finance and stablecoin infrastructure.
Note that this is a payments-receiving pilot, not a way to spend USDC freely at retail outlets.
$USDC #Coinbase #稳定币 #TradFi
