Coinbase and PNC pilot USDC payments for corporates

Coinbase and PNC Bank have expanded their partnership, so eligible clients of PNC’s Corporate and Institutional Banking unit can now receive payments in USDC through a pilot programme powered by Coinbase Payment APIs.

The initiative builds on an earlier collaboration between the two companies, which gave eligible PNC Private Bank clients access to digital asset trading. The new phase moves the partnership from investment services for private clients to payment acceptance for corporate and institutional customers.

Under the programme, participating PNC clients can accept payments in USDC, a stablecoin backed by the US dollar. Incoming USDC is automatically converted one-to-one into US dollars and credited to a designated PNC deposit account. In addition, the funds go directly into the client’s existing banking relationship rather than staying in stablecoin form.

The two partners have separate roles: Coinbase supplies the stablecoin payment infrastructure through its Payment APIs, while PNC contributes its banking services, treasury management capabilities, and experience serving corporate and institutional clients. The offering sits alongside PNC’s existing faster-payments capabilities and gives clients an additional way to receive funds.