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PNC Financial's Arm to Offer Direct Bitcoin Access via Coinbase

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Key Takeaways

  • PNC launches direct spot bitcoin trading for eligible PNC Private Bank clients.
  • The service uses Coinbase's CaaS infrastructure to enable integrated trading and custody.
  • The rollout marks phase one of PNC's broader digital-asset initiative with Coinbase.

In a landmark move for the banking and crypto industries, PNC Bank, a subsidiary of The PNC Financial Services Group, Inc. (PNC - Free Report) , has become the first major U.S. bank to enable direct Bitcoin trading for its clients. The bank has introduced direct spot bitcoin trading capabilities for eligible PNC Private Bank clients. The eligible clients can now buy, sell, and hold Bitcoin directly through PNC’s own digital banking platform, thanks to a strategic partnership with Coinbase and its institutional-grade “Crypto-as-a-Service” (CaaS) infrastructure.

This rollout represents the first step following its July 2025 strategic partnership with Coinbase to provide trusted, secure, and innovative digital asset solutions to PNC's private banking clients.

The first generation of PNC's new "crypto for clients" solution integrates Coinbase's institutional-grade CaaS infrastructure into the PNC Private Bank Online platform. Through Portfolio View, eligible clients can now directly buy, hold, and sell bitcoin while maintaining secure custody. Backed by more than 100 offices serving high- and ultra-high-net-worth clients, PNC Private Bank is positioned to provide its client base with seamless, integrated access to the digital asset economy.

The rapid adoption of crypto infrastructure is not only attracting PNC but also other banks like JPMorgan Chase & Co. (JPM - Free Report) and Citigroup Inc. (C - Free Report) . Last month, JPM rolled out its blockchain-based JPM Coin for institutional payments on Coinbase’s Base network, after completing pilot tests with Coinbase and Mastercard.

Meanwhile, in October 2025, C also partnered with Coinbase to enhance its digital asset payment capabilities, initially focusing on streamlining fiat pay-ins/pay-outs and exploring new on/off-ramp models for global clients. Together, these developments illustrate a broader industry shift in which leading banks are increasingly aligning with crypto-native platforms to modernize payments, custody, and digital-asset transaction capabilities for global clients.

Rationale Behind PNC’s Latest Launch

PNC’s launch reflects the bank’s effort to meet growing client interest in digital assets. By leveraging Coinbase’s institutional-grade CaaS infrastructure, PNC is able to offer secure and integrated solutions for trading, custody, and financing of bitcoin directly through its own digital banking platform.

This integration allows PNC Private Bank clients to buy, sell, and securely hold bitcoin while managing all their accounts and activities on a single, streamlined platform, providing greater oversight and convenience. The partnership also ensures that clients can access the digital asset market in a controlled and familiar environment that aligns with PNC’s risk, compliance, and security standards.

The bank also plans to expand access to additional client segments and introduce enhanced features in future phases, broadening its digital asset offerings while maintaining a secure and disciplined approach.

Our View on PNC

PNC’s entry into direct bitcoin trading marks an important milestone in the convergence of traditional banking and regulated digital-asset markets. By leveraging Coinbase’s infrastructure, PNC positions itself as a first mover among major banks, enhancing its competitive position.

PNC Financial’s Price Performance and Zacks Rank

PNC shares have rallied 13.7% over the past six months compared with 23% growth of the industry.

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At present, the company carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.


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