PNC and Coinbase pilot USDC payments for business clients
Business · First reported 9 Nov, 14:07 · Updated 14:34
PNC Bank and Coinbase are piloting a service that lets eligible corporate and institutional clients receive Circle’s USDC, which is automatically converted into US dollars. The companies say the service may speed access to funds and cross-border transactions.
- The pilot will let eligible PNC corporate and institutional clients receive USDC, which is automatically converted into US dollars.
- PNC and Coinbase say stablecoin transfers could provide quicker access to funds and improve the speed of cross-border transactions.
- The service will initially be offered on a limited basis as a pilot; PNC described the effort as testing and learning with clients.
Summary written by Lux AI from 2 articles
Key facts
- Stablecoin
- Circle’s USDC
- Client eligibility
- Corporate and institutional PNC clients
- Conversion
- USDC receipts will be automatically converted into US dollars
- Rollout
- Initially offered on a limited basis as a pilot
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