PNC, one of the top ten banks in the United States, has partnered with Coinbase to launch Bitcoin trading for high-net-worth clients.

PNC, one of the top ten banks in the U.S., has launched a Bitcoin trading service for its high-net-worth clients. Through a partnership with Coinbase Global Inc., clients can now trade Bitcoin directly through their investment accounts. This service is currently limited to PNC's private banking clients, who can purchase cryptocurrencies through their own investment management accounts, typically funded from their checking accounts at PNC. Brett Tejpaul, co-CEO of Coinbase Institutional, stated that Coinbase is providing brokerage services and technology integration through this partnership to facilitate Bitcoin transactions of any amount. PNC CEO Bill Demchak stated that fintech companies are attempting to fragment the relationship between banks and their clients, and PNC has no reason to allow this. PNC Chief Investment Officer Amanda Agati stated that while the bank previously offered passive ETFs for Bitcoin and Ethereum, its exploration of digital assets is still in its early stages, and this move aims to preserve the integrity of the client relationship.