PNC Bank, a massive financial institution, is joining forces with Coinbase, the biggest US crypto exchange, to offer crypto services to big-time investors.
A Powerful Partnership
This collaboration will let PNC Bank’s institutional clients buy and hold digital assets through Coinbase’s Crypto-as-a-Service (CaaS) platform. In return, PNC will provide certain banking services to Coinbase.
What the CEOs Say
PNC’s chairman and CEO, William S. Demchak, sees this partnership as a way to quickly offer innovative crypto solutions to their clients, while also providing Coinbase with top-notch banking services. He highlighted the growing demand for secure and easy access to digital assets.
Brett Tejpaul, head of Coinbase Institutional, praised PNC’s reputation and expressed excitement about helping them enter the crypto market using Coinbase’s secure and scalable CaaS platform.
Expanding into Crypto
This move follows Coinbase’s recent partnership with JPMorgan, demonstrating a broader trend of traditional finance embracing digital assets. The partnership aims to meet the increasing demand for secure and streamlined access to digital assets within the institutional investment space.