PNC Bank announced a strategic partnership with Coinbase aimed at expanding access to trusted, secure, and innovative digital asset solutions to PNC’s banking clients and institutional investors. PNC will also provide select banking services to Coinbase, reflecting both companies’ commitment to a more resilient digital financial system.
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This partnership brings together PNC’s legacy of client service and innovation with the institutional-grade infrastructure of Coinbase’s Crypto-as-a-Service (Caas) platform to power secure, scalable crypto access for PNC’s clients. PNC and Coinbase will work together to develop an initial offering that will allow clients to buy, hold and sell cryptocurrencies.
“Partnering with Coinbase accelerates our ability to bring innovative, crypto financial solutions to our clients,” said William S. Demchak, PNC chairman and chief executive officer. “We will also provide PNC’s best-in-class banking services to Coinbase. This collaboration enables us to meet growing demand for secure and streamlined access to digital assets on PNC’s trusted platform.”
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Coinbase, the market leader in trusted digital asset infrastructure, brings its security-first approach and industry scale to the partnership. Brett Tejpaul, head of Coinbase Institutional, said, “PNC is a market leader in delivering best-in-class products for their clients. We’re thrilled to support their entry into the digital asset market with our leading Crypto as a Service platform, which provides PNC with a powerful set of tools to develop a scalable, high-growth business, built on a foundation of uncompromising security.”
About Coinbase
Crypto creates economic freedom by ensuring that people can participate fairly in the economy, and Coinbase is on a mission to increase economic freedom for more than 1 billion people. We’re updating the century-old financial system by providing a trusted platform that makes it easy for people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and fast, free global transfers. We also provide critical infrastructure for onchain activity and support builders who share our vision that onchain is the new online. And together with the crypto community, we advocate for responsible rules to make the benefits of crypto available around the world.
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About PNC Bank
PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. PNC is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.
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Source : PRnewswire