PNC taps Coinbase to create crypto trading offering for bank customers
By Hannah Lang
(Reuters) -PNC Bank is working with cryptocurrency exchange Coinbase to offer crypto trading to the bank’s customers, the companies said on Tuesday, in a sign that crypto is moving toward becoming increasingly interconnected to mainstream finance.
PNC will use Coinbase’s institutional “crypto-as-a-service” platform to develop an offering that will allow PNC clients to buy, hold and sell cryptocurrencies. The Pittsburgh-based financial institution will also offer certain banking services to Coinbase.
WHY IT’S IMPORTANT
The PNC-Coinbase partnership is a stark shift for the banking sector, which crypto companies at one point had accused of being hostile to their industry.
Lawmakers earlier this year held a…
