PNC Bank Pilots USDC Payment Acceptance, Converting to USD Deposits
Published
PNC Bank, the eighth-largest U.S.
MissedBlock Desk · 2 min read
PNC Bank, the eighth-largest U.S. bank by assets, is piloting a service that allows eligible corporate and institutional clients to receive payments made in USD Coin (USDC), a stablecoin on the Ethereum network. These USDC payments are automatically converted into U.S. dollars before being deposited into the client’s PNC account, enabling businesses to accept stablecoin payments without holding the digital currency.
The service aims to speed up access to funds and improve cross-border payment efficiency, according to the bank. This initiative is an extension of a partnership between PNC Bank and Coinbase, established in July 2025, which also includes PNC providing banking services to the cryptocurrency exchange. The partnership previously facilitated the introduction of Bitcoin trading for eligible PNC Private Bank clients in December.
PNC’s pilot aligns with a broader trend of traditional financial institutions exploring digital asset integration. Citi, for example, expanded its Coinbase partnership in September to enable institutional clients to accept stablecoin payments, with Coinbase handling the conversion to fiat currency.
USDC is the second-largest stablecoin by market capitalization, valued at $70.5 billion, according to DefiLlama data. Tether’s USDT holds the largest market capitalization at $176.8 billion. The total stablecoin market stood at approximately $290.8 billion on Monday.
PNC Bank did not disclose specific details regarding fees, settlement-time benchmarks, or the number of clients participating in the pilot program. The bank did not respond to requests for additional information by publication time.
Why This Matters
The materials describe a narrow update: PNC Bank has launched a pilot program for select corporate and institutional clients to accept payments made in USDC (a stablecoin on Ethereum). PNC Bank did not disclose fees.
Broader Context
Source materials place the factual news in this context: PNC Bank, the eighth-largest US bank by assets, launched a limited pilot enabling eligible corporate and institutional clients to receive USDC payments through Coinbase.