PNC Bank | Crypto

PNC Bank, a US banking giant with more than $569 billion in assets under management (AUM), has embedded spot Bitcoin trading into its private banking platform, marking a distinct pivot in the institutional adoption cycle. This makes it the first top-10 US lender to allow clients to buy, sell, and hold digital assets directly alongside […] The post PNC Bank just launched direct Bitcoin trading, but one specific restriction effectively holds your digital assets hostage appeared first on CryptoSlate.

The move makes PNC the first major US bank to offer spot Bitcoin trading within its own digital platform, starting with private bank clients. PNC Bank has begun offering direct spot Bitcoin trading to eligible private bank clients, becoming the first major US bank to enable buy, hold and sell functions inside its own digital platform. According to a Tuesday release, the launch marks the first phase of PNC’s partnership with Coinbase. Announced in July, the collaboration is supported by Coinbase’s Crypto-as-a-Service trading and custody stack. PNC Private Bank serves high- and ultra-high-net-worth individuals, families, family offices and business owners. The bank plans to expand access to additional client groups and add more capabilities over time. Read more

Institutional interest in crypto has been rising as regulatory clarity increases in the United States. PNC Bank is set to offer crypto services to clients through a new partnership with Coinbase, following the signing of federal crypto legislation. PNC Bank announced its crypto move on Tuesday. With Coinbase support, the US bank will offer its clients the ability to buy, sell and hold digital assets without logging out of their accounts. The move will be made possible through Coinbase’s Crypto-as-a-Service platform. In turn, PNC Bank will offer Coinbase some of its banking services. Read more