PNC Bank starts letting corporate clients get paid in USDC, converted to dollars through Coinbase

Summary

PNC Bank has launched a pilot that lets eligible corporate and institutional clients receive payments in USDC through Coinbase, according to a Monday announcement reported by The Block and Cointelegraph.

Incoming USDC is automatically converted into U.S. dollars at a 1-to-1 rate and deposited into the client's designated PNC account, so businesses can accept the stablecoin without holding it, the outlets reported.

Cointelegraph said the pilot accepts USDC on Ethereum and that PNC did not disclose fees, settlement times or how many clients are taking part.

The move extends a partnership that began in July 2025 and led to bitcoin trading for PNC private banking clients in December, and it follows a similar Citi and Coinbase stablecoin payments setup announced in September.

Key facts

• The Block: the pilot uses Coinbase Payment APIs alongside PNC's banking and treasury management services, and PNC said it would complement faster-payment options already available to corporate clients. (The Block)
• The Block: incoming USDC is converted into U.S. dollars 1-to-1 before being deposited into clients' designated PNC accounts. (The Block)
• Cointelegraph: PNC is the eighth-largest U.S. bank by assets, and the pilot accepts Circle's USDC on Ethereum using Coinbase Payments products. (Cointelegraph)
• Cointelegraph: PNC said the service aims to speed up access to funds and improve cross-border payment efficiency, but did not disclose fees, settlement-time benchmarks or the number of participating clients. (Cointelegraph)
• The Block: PNC first partnered with Coinbase in July 2025 and began offering spot bitcoin trading to eligible private banking clients in December. (The Block)
• Cointelegraph: citing DefiLlama, USDC is the second-largest stablecoin at $70.5 billion, behind Tether's USDT at $176.8 billion. (Cointelegraph)

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