PNC Bank Begins Testing USDC-to-Dollar Payment Conversions
The eighth-largest U.S. bank now allows corporate clients to receive stablecoins automatically converted into fiat currency.
PNC Bank has launched a pilot project for corporate and institutional clients who wish to accept payments in USDC. The initiative uses Coinbase infrastructure to process the stablecoin on the Ethereum network.
Each token received undergoes an automatic conversion into U.S. dollars before being deposited into client bank accounts. The service allows companies to move funds without the need to hold digital assets on their balance sheets.
The institution stated that the goal is to increase the speed of access to funds and improve efficiency in cross-border payments. The bank did not disclose details regarding fees or settlement timelines for operations conducted during the testing phase.
This action expands the partnership established between PNC and Coinbase in July 2025. The previous agreement had already enabled Bitcoin trading for Private Bank segment clients in December.
The move follows a strategy adopted by Citi, which also uses Coinbase technology to allow institutional clients to receive stablecoin payments converted into fiat currency. The global stablecoin market has reached a total value of approximately 290.8 billion dollars.
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