As cryptocurrencies increasingly enter the mainstream, the seventh largest bank in the United States, PNC Bank, announced a partnership with the trading platform Coinbase, allowing over 90,000 retail and institutional clients to buy and sell digital assets directly through their bank accounts, without needing to switch to a third-party platform. This move marks a further integration of cryptocurrencies into the traditional financial system.
PNC will adopt Coinbase's "Crypto-as-a-Service" solution, allowing users to complete cryptocurrency transactions via PNC's online banking interface. PNC also provides banking settlement and other supporting services for Coinbase. PNC CEO William Demchak stated that this partnership responds to the strong customer demand for a "secure and convenient access to digital assets on a trustworthy platform."
As of the second quarter of 2025, PNC's total customer assets reached $421 billion. Following the announcement, Coinbase's stock price initially fell more than 2%, but slightly recovered after hours; PNC Financial Services Group's stock price slightly increased.
This partnership also reflects the trend of traditional banks accelerating their engagement with crypto assets following the relaxation of regulations by the Trump administration. Since Trump's return to the White House at the beginning of 2025, the barriers between banks and the crypto industry have gradually been broken down. The signing of the "Stablecoin Act" (GENIUS Act) has further prompted major banks such as JPMorgan Chase, Citibank, and Bank of America to announce their exploration of issuing their own stablecoin products. The collaboration between PNC and Coinbase is undoubtedly an important footnote to this trend.
