U.S. bank PNC Bank launched a service allowing corporate and institutional clients to accept payments in the USDC stablecoin. Cryptocurrency exchange Coinbase provides the technology infrastructure for the solution.
PNC Bank, one of the largest banks in the U.S., announced the launch of an incoming USDC payment service on the Ethereum blockchain for clients of its Corporate & Institutional Banking (C&IB) division. The solution uses Coinbase’s payment products and automatically converts incoming stablecoins into U.S. dollars before depositing the funds into clients’ bank accounts.
The new service allows businesses to accept USDC payments without having to convert digital assets into fiat currency themselves. Incoming stablecoins are automatically converted into U.S. dollars at a 1:1 rate, and the funds are then credited to a designated PNC Bank deposit account.
According to the bank, integrating stablecoin payments with traditional banking infrastructure is intended to accelerate settlements and improve the efficiency of international transactions. Corporate clients will retain access to existing banking products and liquidity management tools.
Initially, the service is available to a limited group of corporate and institutional clients who meet the pilot program’s eligibility requirements. The bank hasn’t disclosed a timeline for expanding the service or the number of participants in the pilot.
The launch marked another stage in the partnership between PNC Bank and Coinbase. In December 2025, PNC introduced direct access to Bitcoin transactions for its clients through Coinbase’s Crypto-as-a-Service infrastructure.
Tom Lang, Head of Treasury Management Products and Operations at PNC Bank, said corporate clients are looking for new ways to settle transactions with customers, suppliers, and business partners. According to Lang, the solution combines digital payment capabilities with PNC’s expertise in banking risk management.
Coinbase also views the integration as an example of stablecoin adoption within traditional financial infrastructure. Alec Lovett, Head of Infrastructure Products at Coinbase, emphasized that the partnership with PNC enables corporate clients to use digital assets for faster and more efficient payments, including cross-border transactions.
PNC has so far announced support only for incoming USDC payments. The bank hasn’t introduced the ability for corporate clients to send stablecoins through the new service.
Previously, international fintech company Nium integrated Coinbase’s infrastructure for global USDC settlements. The solution allows corporate clients to send, receive, and convert stablecoins into fiat currencies for cross-border payments.
