Odaily Planet Daily reports that PNC Bank has launched a limited pilot, allowing eligible business and institutional clients to receive USDC payments on the Ethereum network through Coinbase Payments. The funds will be automatically converted into U.S. dollars and deposited into designated PNC accounts, so clients do not need to hold USDC.

PNC said the service is intended to speed up access to funds and improve the efficiency of cross-border payments. The bank did not disclose any fees, settlement time targets, or the number of participating clients. (Cointelegraph)