Renowned cryptocurrency exchange Coinbase has partnered with PNC Bank to expand direct Bitcoin access for clients globally. Coinbase confirmed the development in a blog post on Tuesday, noting that the partnership will provide direct spot Bitcoin trading capabilities for eligible PNC Private Bank clients. As revealed, this partnership is powered by Coinbase’s crypto-as-a-service (CaaS”) platform.
With this, PNC private bank clients can now buy, sell, and hold Bitcoin directly through their accounts on PNC’s digital banking platform. This also makes PNC Bank the first major US bank to support this type of offering. In addition, the partnership also eliminates the need for accounts on separate exchanges, offering a seamless and secure experience within a trusted banking environment.
This collaboration combines PNC’s expertise as a top-10 U.S. financial institution with Coinbase’s secure and scalable infrastructure to deliver seamless Bitcoin access. By integrating Bitcoin trading into PNC’s platform, the bank enables clients to explore the digital economy in a way that integrates seamlessly with their existing financial lives, offering simplicity without compromising security.
As the interest in digital assets continues to grow, the partnership reflects a shared commitment to empowering clients with innovative solutions that align with evolving financial goals. Together, both parties are also paving the way for broader adoption of digital assets within traditional financial systems, creating new opportunities for institutions and their clients alike.
Just last month, Coinbase announced the completion of a takeover deal involving Solana-based DEX, Vector. As revealed, the acquisition of the trading platform also allows coinbase to tap into the fast-growing Solana ecosystem.
Coinbase acquires ECHO
In October, the exchange acquired an on-chain capital-raising platform, ECHO for $375 million. As revealed, the acquisition which comes in the form of a partnership allows Coinbase to simplify fundraising for startups and help the firms grow. ECHO also gives communities early access to unique investment opportunities.
In the same month, it also launched an investment in an Indian based exchange CoinDCX. As revealed, this investment was geared towards the widespread adoption of cryptocurrency in India.
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