Coinbase and PNC Bank have joined forces to enhance PNC Bank’s cryptocurrency services to customers. PNC Bank manages about $549 billion in assets.
With the goal of providing customers with more options, the bank launched a cooperation with Coinbase. The leading cryptocurrency exchange will also get certain services from PNC.
Introduces digital asset trading for PNC Bank clients
One of the most prominent American banks, PNC, has joined the cryptocurrency bandwagon. Coinbase and the $549 billion AuM banking behemoth have joined up to broaden the banking giant’s customer offerings to include digital asset services.
According to a press release, the banking behemoth has teamed up with Coinbase in a strategic alliance to provide its customers and institutional investors with more digital asset options.
The leading cryptocurrency exchange will also have access to specialized banking services from PNC Bank. The bank said that it is teaming up with Coinbase’s Crypto-as-a-Service (CaaS) platform, which offers institutional-grade infrastructure, to provide its customers with “secure, scalable crypto access.” This collaboration will allow the bank to continue its tradition of client service and innovation.
In addition, the two companies will collaborate on an initial product that would enable crypto asset trading for nine million customers. As for PNC Bank, it’s just one of several big conventional banks that are branching out to provide crypto services to its customers.
Moreover, Coinbase discussed its relationship with the financial behemoth in an X post as well. The U.S. bank’s clients have been asking for easier access to cryptocurrency, and this alliance is going to make that happen. According to Brian Armstrong, CEO of the exchange, the more convenient it is to purchase and hold cryptocurrency, the quicker its adoption will be.
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