Summary
- One of the largest U.S. banks, PNC, plans to expand its partnership with Coinbase to offer stablecoin payment services to clients.
- Unfolded said PNC will use Coinbase infrastructure to provide clients with stablecoin-based payment functionality.
- Unfolded added that the partnership is positive for Coinbase's expansion of its institutional business, but dependence on a specific crypto company for a bank's stablecoin payment infrastructure could become a risk factor as regulation expands.
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PNC, one of the largest U.S. banks, plans to expand its partnership with Coinbase to offer stablecoin payment services to clients, according to a report.
On November 9, crypto market analysis account Unfolded said on X, formerly Twitter, that PNC will add stablecoin payment functionality to its existing Bitcoin trading partnership with Coinbase.
PNC plans to use Coinbase's infrastructure to let clients make payments using stablecoins.
Unfolded said the partnership could also support Coinbase's expansion in its institutional business. It added that a bank's stablecoin payment infrastructure relying heavily on a specific crypto company could become a risk factor as regulation expands.
Minseung Kang
