Coinbase and PNC Bank have expanded their partnership, so eligible clients of PNC’s Corporate and Institutional Banking unit can now receive payments in USDC through a pilot programme powered by Coinbase Payment APIs.
The initiative builds on an earlier collaboration between the two companies, which gave eligible PNC Private Bank clients access to digital asset trading. The new phase moves the partnership from investment services for private clients to payment acceptance for corporate and institutional customers.
Under the programme, participating PNC clients can accept payments in USDC, a stablecoin backed by the US dollar. Incoming USDC is automatically converted one-to-one into US dollars and credited to a designated PNC deposit account. In addition, the funds go directly into the client’s existing banking relationship rather than staying in stablecoin form.
The two partners have separate roles: Coinbase supplies the stablecoin payment infrastructure through its Payment APIs, while PNC contributes its banking services, treasury management capabilities, and experience serving corporate and institutional clients. The offering sits alongside PNC’s existing faster-payments capabilities and gives clients an additional way to receive funds.
Linking stablecoin payments with treasury operations
According to the companies, a practical challenge for businesses exploring stablecoins is what happens after a payment arrives. Receiving a stablecoin transfer is only part of the process, because the funds also have to be brought into a company’s banking operations. The pilot is designed to cover both steps, so clients can accept USDC and keep managing those funds through PNC.
The companies state that the partnership aims to help clients benefit from stablecoin payments, including faster access to funds and efficiency gains in cross-border transactions. For corporate treasurers, the conversion into US dollars at the point of receipt means stablecoin acceptance can be added without changing how funds are held and managed.
Implications for banks and infrastructure providers
The arrangement also shows one model for how banks can add stablecoins to their existing offerings. Coinbase provides the technology layer, while PNC keeps the client relationship, the deposit account, and the treasury management functions.
For Coinbase, the pilot extends the use of its Payment APIs into corporate and institutional banking and presents its infrastructure as a component that banks can integrate into their services. For PNC, it adds a stablecoin acceptance option to its existing set of payment capabilities for business clients.
The programme is currently at the pilot stage and open to eligible clients. The companies have not disclosed the number of participating clients, expected transaction volumes, or a timeline for a broader rollout.
