PNC Bank has partnered with Coinbase to launch USDC receiving service.

PNC Bank has partnered with Coinbase to allow eligible corporate and institutional clients to receive payments in USDC, issued by Circle, with funds automatically converted to USD upon arrival. This service aims to help businesses access funds faster and expedite cross-border transaction settlements, and is initially being rolled out as a pilot program. Tom Lang, head of product and operations at PNC's fund management division, stated that the current objective is to test stablecoin functionality with clients. PNC already offers cryptocurrency trading through Coinbase's "Crypto-Service" platform last year and provides banking services to Coinbase. (Source: Reuters)