In December, PNC Bank (PNC +0.19%) became the first major bank to offer Bitcoin (BTC +0.08%) services to eligible clients. The new spot Bitcoin trading facilities will initially only be available to high-net-worth clients of PNC Private Bank. They will be able to use the bank’s platform to buy, sell, and hold Bitcoin.
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The bank says it plans to expand the service to more customers in the future. Created in partnership with Coinbase (COIN 1.18%), the deal means PNC Bank will also provide banking services to the crypto exchange.
FDIC insurance would not apply to Bitcoin purchased through a bank
If the cryptocurrency…
