PNC Bank is piloting a service that lets eligible corporate and institutional customers take USDC payments on the Ethereum network and receive regular US dollar deposits instead. Each USDC received gets converted to one dollar before it lands in the account, so clients keep dollar balances without holding the stablecoin directly. It's a test program for now, showing how a major traditional bank might bridge stablecoin payments with conventional banking.

Interesting to see a big US bank experimenting with the stablecoin-to-deposit route. Do you think this kind of setup will become common for businesses? $USDC $ETH

Source: https://cointelegraph.com/news/pnc-bank-launches-usdc-payment-pilot-coinbase

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