A multi-billion-dollar bank is teaming up with the largest crypto exchange in the US to serve institutional investors.
According to a new press release, PNC Bank announces it is partnering with Coinbase for both digital asset and traditional banking services.
While Coinbase will assist PNC with their Crypto-as-a-Service (CaaS) model, allowing clients to buy and hold digital assets, PNC will provide Coinbase with “select banking services.”
Says William S. Demchak, PNC chairman and CEO,
“Partnering with Coinbase accelerates our ability to bring innovative, crypto financial solutions to our clients. We will also provide PNC’s best-in-class banking services to Coinbase. This collaboration enables us to meet growing demand for secure and streamlined access to digital assets on PNC’s trusted platform.”
Added Brett Tejpaul, head of Coinbase Institutional,
“PNC is a market leader in delivering best-in-class products for their clients. We’re thrilled to support their entry into the digital asset market with our leading Crypto as a Service platform, which provides PNC with a powerful set of tools to develop a scalable, high-growth business, built on a foundation of uncompromising security.”
Last month, Coinbase announced that it was partnering with another financial giant, JPMorgan, to launch a token on the exchange’s proprietary Ethereum (ETH) layer-2 blockchain, Base.
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