The sixth Bank of the United States has just announced a strategic partnership with Coinbase in pressure to massively extend access to digital assets for banking customers and institutional investors.
PNC says that customers will allow customers to buy, hold and sell Bitcoin and Crypto assets while providing banking and treasure management services for Coinbase.
In a press release, PNC says that it will deploy an “initial offer” to allow the purchase and custody of cryptographic assets.
“This partnership brings together the inheritance of PNC customers and innovation with the institutional infrastructure of the Cypto-A-Service (CAAS) platform of Coinbase to fuel cryptographic and evolving access for PNC customers.
PDG of PNC, Bill Demchak, told CNBC that the partnership will support customers who use stablescoins for payments, the empowerment of digital money movement through customers of retail, wealth and businesses.
“We are not going to produce a stablecoin in itself, certainly not in our own name, but we will be a wallet, a supplier for any part that one of our customers wishes to use.”
Demchak says that PNC and Coinbase explored a similar partnership years ago, but stopped due to regulatory restrictions.
Follow us on X, Facebook and Telegram
Do not miss a beat-Subscribe to obtain alerts by e-mail delivered directly in your reception box
Check price action
Surf the daily Hodl mixture
& nbsp
Warning: Opinions expressed at Daily Hodl are not investment advice. Investors should make their reasonable diligence before making high-risk investments in bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk and that all the losses you may undergo are your responsibility. The Daily Hodl does not recommend the purchase or sale of cryptocurrencies or digital assets, and the Daily Hodl is an investment advisor. Please note that the Daily Hodl is participating in affiliation marketing.
Image generated: Midjourney
