PNC, Coinbase Partnership Aims To Revolutionize Crypto Banking Infrastructure

PNC Financial Services Group, Inc. (NYSE:PNC) unit PNC Bank and Coinbase Global Inc. (NASDAQ:COIN) announced on Tuesday a strategic alliance to broaden secure cryptocurrency offerings and extend banking services for retail and institutional clients.

Under the agreement, PNC Bank will integrate Coinbase’s Crypto‑as‑a‑Service platform to enable customers to buy, hold and sell digital assets, while also delivering tailored banking solutions to Coinbase itself.

The partnership combines PNC’s longstanding client service expertise with Coinbase’s institutional‑grade infrastructure, giving users seamless, secure access to cryptocurrency markets.

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According to Benzinga Pro, PNC stock has gained over 11% in the past year. Investors can gain exposure to the stock via iShares U.S. Regional Banks ETF (NYSE:IAT).

As part of the deal, PNC Bank will provide deposit accounts, treasury management and other core financial products to support Coinbase’s growth and strengthen system resiliency.

By uniting PNC’s banking network with Coinbase’s digital asset capabilities, the collaboration aims to foster a more resilient, innovative financial ecosystem.

“Partnering with Coinbase accelerates our ability to bring innovative, crypto financial solutions to our clients,” said William S. Demchak, PNC chairman and CEO.

Brett Tejpaul, head of Coinbase Institutional, said, “PNC is a market leader in delivering best-in-class products for their clients.”

“We’re thrilled to support their entry into the digital asset market with our leading Crypto as a Service platform, which provides PNC with a powerful set of tools to develop a scalable, high-growth business, built on a foundation of uncompromising security,” Tejpaul added.

COIN stock has gained over 51% in the past year. Investors can gain exposure to the stock via First Trust SkyBridge Crypto Industry and Digital Economy ETF (NYSE:CRPT).

PNC, COIN Price Actions: PNC Financial Services Group shares are trading higher by 1.15% to $198.31; Coinbase was down 1.75% at $406.47 at publication on Tuesday.

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Photo: PNC, courtesy PNC; Coinbase via Shutterstock