PNC Bank is expanding its cooperation with Coinbase to support corporate and institutional clients receiving payments in the USDC stablecoin, The Block reported on Nov. 9.

The service will initially be piloted for eligible clients, the report said.

PNC Bank will automatically convert incoming USDC into U.S. dollars at a 1-for-1 rate and deposit the funds into client-designated accounts.

The service uses Coinbase’s payment API for stablecoin transactions and PNC services for banking and cash management. PNC Bank expected the service to complement the fast payment methods corporate clients already use.

PNC Bank first formed a partnership with Coinbase in July 2025. The main points were that PNC Bank would use Coinbase’s Crypto as a Service (CaaS) platform and provide some banking services to Coinbase.

In December that year, the partnership was expanded so eligible private banking clients could directly buy and sell bitcoin through their existing investment accounts.

Coinbase is also expanding stablecoin payment cooperation with other banks. In September, it expanded its cooperation with Citi so Coinbase clients could receive fiat payments into Citi virtual account wallets and automatically convert them into stablecoins.

Citi institutional clients can use Coinbase infrastructure to receive stablecoin payments and settle in fiat currency. Coinbase also agreed this year to work with the payments company Move to provide stablecoin payment and settlement functions to about 1,000 regional banks and credit unions.