In a pilot program launched with Coinbase, U.S. bank PNC will automatically convert incoming USDC payments for eligible corporate customers into dollars and deposit them into their bank accounts.
According to an announcement reported by The Block, PNC is expanding its partnership with Coinbase through a service that will allow businesses and corporate customers to accept payments in USDC. Initially, the service will be limited to customers eligible to participate in the pilot program.
How will USDC payments reach a bank account?
PNC will convert incoming payments at a rate of 1 U.S. dollar for each USDC and deposit the amount into a PNC account designated by the customer. Coinbase will provide the crypto payment infrastructure, while PNC will connect dollar collection to its existing banking and cash management services.
Partnership had expanded to Bitcoin transactions
PNC and Coinbase first announced their partnership in July 2025. PNC later gave eligible private banking customers the ability to buy and sell Bitcoin through their existing investment accounts. The new pilot, by contrast, focuses on payment collection for businesses rather than individual investment transactions.
Not investment advice.