PNC Bank opens USDC payment pilot for corporate clients

Unchained reported that PNC Bank has opened a pilot that allows eligible clients in its corporate and institutional banking unit to take USDC. PNC and Coinbase announced the pilot on Monday. Coinbase supplies the payment APIs behind the stablecoin side of the offering, the companies said.

Under the arrangement, USDC is automatically converted one-to-one into dollars and deposited in a PNC account. PNC says the USDC transfers run on the Ethereum blockchain. Tom Lang, who heads PNC Treasury Management, pointed to client demand in the announcement. Alec Lovett, who heads Coinbase Infrastructure Products, praised the collaboration between a bank and a crypto company.

The pilot is limited, and no timeline has been given for wider client access. The service builds on a crypto-as-a-service agreement between PNC and Coinbase announced in July 2025. Nick van Eck, chief executive of Agora, said enterprise use of stablecoins remains minuscule. He put business-to-business stablecoin payments at about a quarter trillion dollars last year.