I came across this news about a major U.S. bank in the middle of the night 😮

PNC Bank, ticker PNC,
is piloting USDC payments
for corporate and institutional clients

Payments are made on Ethereum
and automatically converted to U.S. dollars at a 1:1 rate
then deposited directly into a designated PNC account

The service is powered by Coinbase’s payments product
(ticker: COIN)
and is initially available to eligible clients on a pilot basis
The bank has around $410 billion in assets

The bank is integrating stablecoin payments into its treasury workflows
to streamline cross-border and corporate settlements
I’m keeping an eye on this one