EddieJayonCrypto
23 Jul 25
PNC Bank is considering offering crypto wallet services through its expanding partnership with Coinbase. CEO Bill Demchak stated the collaboration, initially paused due to the crypto winter and regulatory hurdles, is now advancing amid a more favorable environment and the Genius Act. PNC will not cr...
PNC Bank is exploring the possibility of offering crypto wallet services following its deepening partnership with Coinbase. CEO Bill Demchak revealed in a CNBC interview that the collaboration, which began years ago, is gaining momentum thanks to a more favorable economic and regulatory environment.
Demchak highlighted that PNC has been working with Coinbase to enable U.S. digital payments and provide treasury management services, leveraging the bank's fiat capabilities. The partnership was initially put on hold during the crypto winter and due to strict regulatory restrictions, which have since eased with the introduction of the Genius Act.
Importantly, PNC does not intend to launch its own stablecoin. Instead, the bank aims to serve as a wallet provider supporting any token its clients choose to use. Coinbase will act as the technological backbone, allowing clients to trade industry-led stablecoins or other cryptocurrencies through PNC's wallet service.
This development marks a significant shift for traditional financial institutions embracing cryptocurrency, reflecting broader industry trends toward integrating digital assets within established banking frameworks. As regulatory barriers continue to diminish, banks like PNC are poised to enhance crypto accessibility for their customers.