Coinbase Partners With PNC Bank To Offer Direct Bitcoin Services

(MENAFN- Crypto Breaking) Coinbase (NASDAQ: COIN ) has formed a strategic partnership with PNC Bank, one of the largest financial institutions in the U.S., to provide direct access to Bitcoin trading. This collaboration marks a significant step in the increasing integration of cryptocurrency into mainstream finance.

Through this partnership, PNC Bank has introduced a new service that allows its private banking clients to engage in Bitcoin transactions. The service enables clients to buy, hold, and sell Bitcoin directly through the bank, offering a seamless and secure experience. Powered by Coinbase's Crypto-as-a-Service (CaaS) platform, this service allows PNC to provide robust crypto trading. Custody solutions without building its own complex infrastructure.

Coinbase's Crypto-as-a-Service Infrastructure

Coinbase's Crypto-as-a-Service infrastructure is designed to assist traditional banks in offering cryptocurrency services. By partnering with PNC, Coinbase aims to simplify crypto integration for financial institutions. Thus saving them the time and cost of developing their own crypto systems. This infrastructure provides a secure and compliant way for banks to offer crypto services to their clients.

Initially, the service will be available to eligible private banking clients of PNC, who can now trade Bitcoin through the bank's platform. This move solidifies PNC's position as a leader in bringing cryptocurrency access to high-net-worth individuals. The bank has indicated plans to eventually extend this offering to institutional clients.

Future Plans for Expansion

While the service is currently focused on PNC's private banking clients, there are plans to expand to institutional clients. As the demand for crypto services continues to grow, this partnership positions both Coinbase and PNC.

This partnership is a notable development in the crypto space, as traditional banks like PNC begin offering direct crypto services to clients. Coinbase's infrastructure is helping banks integrate these services, simplifying the process for both the banks and their customers.

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