PNC pilots USDC payments for corporate clients, converting the stablecoin into dollars in their accounts with Coinbase's payment tech

PNC Bank, which calls itself one of the largest diversified financial services institutions in the US, has begun letting some business clients get paid in USDC, a dollar-backed stablecoin. The bank said on Monday that it is offering incoming USDC payments on a limited basis to eligible Corporate & Institutional Banking clients as a pilot program.

The client never has to hold the stablecoin. USDC sent on the Ethereum blockchain is automatically converted one-to-one into US dollars and deposited into a designated PNC deposit account. Coinbase provides the payment products behind the service, PNC said, while the bank keeps the account and treasury relationship. PNC pitches it as faster access to funds and more efficient cross-border payments.

"Stablecoins are modernizing how businesses move money by making payments faster, more efficient and more global," said Alec Lovett, head of infrastructure products at Coinbase.

The move builds on PNC's existing ties with Coinbase, including a bitcoin access offering from December 2025, which The Block says opened spot bitcoin trading to eligible private banking clients. It is a pilot, and neither company gave a client count, fees or a date for wider rollout.