In Brief:
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Coinbase and PNC Bank have expanded their partnership, enabling eligible corporate customers to accept USDC payments through a pilot program.
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PNC will automatically convert incoming USDC into U.S. dollars at a 1-to-1 rate before depositing funds into designated accounts.
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Coinbase has strengthened its banking network through partnerships with Citi and Moov, expanding stablecoin payment services across financial institutions.
Coinbase has expanded its partnership with PNC Bank, allowing corporate and institutional customers to accept USDC stablecoin payments through a pilot program.
According to the announcement, PNC will convert eligible businesses’ USDC payments into dollars at a 1-to-1 rate before deposit. This arrangement enables businesses to accept stablecoin payments without holding cryptocurrency, connecting digital transactions with traditional banking services.
Also Read: Avalanche Selected to Power Core Settlement Ledger for NYSE-Linked Tokenized Securities Platform
Coinbase and PNC Bank Introduce USDC Payment Conversion for Businesses
The pilot integrates Coinbase Payment APIs with PNC’s banking infrastructure to support stablecoin acceptance and dollar settlement for corporate customers. Through this service, participating businesses can receive payments in USDC while maintaining their existing dollar-denominated bank accounts.
PNC manages the conversion process, ensuring incoming stablecoin payments reach designated accounts as U.S. dollars rather than digital assets. Additionally, the service complements PNC’s existing faster-payment solutions, providing corporate customers with another method for receiving business payments.
Coinbase supplies the underlying payment technology, while PNC handles banking relationships and treasury management services. The companies have limited the initial rollout to eligible customers, without announcing a broader availability schedule.
Coinbase Strengthens Banking Partnerships Through Stablecoin Infrastructure
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Coinbase established its partnership with PNC in July 2025, introducing cryptocurrency infrastructure and selected banking services through their agreement. The collaboration initially involved Coinbase’s Crypto-as-a-Service platform, allowing PNC to develop digital asset offerings for eligible banking customers.
In December 2025, PNC expanded its cryptocurrency services by introducing spot Bitcoin trading for qualifying private banking clients. Customers gained access to Bitcoin purchases and sales through existing investment accounts, removing the need for separate exchange platforms.
Meanwhile, Coinbase expanded its partnership with Citi in September 2026 to connect stablecoin transactions with conventional banking payment systems. That arrangement enables institutional customers to accept stablecoin payments and convert them into fiat currencies through Coinbase infrastructure.
Coinbase also partnered with Moov to support stablecoin payments across systems serving more than 1,000 community banks and credit unions. The partnership covers payment acceptance, settlement, and real-time funding through Coinbase’s APIs and custodial wallet technology.
PNC’s latest expansion extends Coinbase’s banking infrastructure into corporate payments, allowing businesses to receive USDC transactions as conventional dollar deposits.
