PNC launches USDC payments for corporate clients

PNC Bank has launched incoming USDC payments for eligible corporate and institutional clients across the United States.

The service uses Ethereum (ETH) and Coinbase's payment infrastructure to process incoming stablecoin transfers.

“Our clients are continually looking at new ways to interact and transact with customers, suppliers and business partners,” said Tom Lang, PNC's head of Treasury Management Product and Operations.

Incoming USDC (CRYPTO:USDC) payments automatically convert 1:1 into US dollars and enter designated PNC deposit accounts.

“This solution gives us an opportunity to support our customers with innovative capabilities,” Lang said.

The rollout expands PNC's existing relationship with Coinbase and complements its established faster payment services.

PNC initially limits access to eligible clients through a pilot programme as businesses assess stablecoin payment options.

Following the announcement, PNC shares were up 2.63% at $231.30.