PNC Bank Breaks Ground with Direct Bitcoin Trading Access for Clients Using Coinbase Technology

PNC Bank Introduces Direct Bitcoin Trading for Clients

In a groundbreaking announcement today, PNC Bank has launched direct spot bitcoin trading for its clients, making it the first major bank in the United States to provide such services. Powered by Coinbase's advanced Crypto-as-a-Service (CaaS) platform, this new offering allows eligible clients of PNC Private Bank® to effortlessly buy, hold, and sell bitcoin directly within PNC’s digital banking environment.

This initiative marks a significant milestone in PNC's ongoing partnership with Coinbase, which was established in July to enhance the bank's digital asset offerings. By integrating Coinbase’s state-of-the-art infrastructure, PNC aims to deliver a secure and seamless crypto trading experience that meets the needs of its high-net-worth clients.

Enhancing Digital Banking Experience

The new bitcoin capability is incorporated into the PNC Private Bank Online platform, introducing users to a range of cryptocurrency custody features. Clients can now access the Portfolio View, a streamlined interface that allows for direct transactions in bitcoin without needing to rely on third-party services. This innovation not only simplifies the trading process but also centralizes all clients’ financial activities in one location.

As William S. Demchak, PNC's Chairman and CEO, noted,