PNC Bank Opens Crypto To 90K Clients Via Coinbase Deal

PNC Bank has partnered with Coinbase to let over 90,000 retail and institutional clients trade crypto directly from their bank accounts, marking another step in crypto’s accelerating integration into traditional financial.

The deal, announced in a July 22 press release, will see the seventh-largest US bank adopt Coinbase’s Crypto-as-a-Service platform, enabling users to buy and sell digital assets without leaving PNC’s online environment.

The goal is to streamline access to crypto while keeping it within the bounds of a trusted banking interface. PNC will also offer the exchange some of its “best-in-class” banking services, including settlement.

PNC-Coinbase Partnership Answers A Growing Demand For Crypto

According to its Q2 2025 earnings report, PNC Bank had $421 billion in clients’ assets under management as of the end of the quarter. 

In a statement, the bank’s CEO William Demchak said the partnership will help “meet the growing demand for secure and streamlined digital assets on PNC’s trusted platforms.” 

Customers of one of the largest banks in the US wanted easier access to crypto.

So we’ve partnered with them to make it happen. @PNCBank clients will soon be able to buy, sell and hold crypto. pic.twitter.com/m801TSXevn

— Coinbase 🛡️ (@coinbase) July 22, 2025

Following the announcement, Coinbase’s shares dropped over 2%, but recovered slightly in after-hours trading, according to Google Finance.  Shares of PNC parent company, PNC Financial Services Group, rose a fraction of a percentage. 

Traditional Banks Move On Crypto As Trump Lowers Barriers

The move by PNC and Coinbase is the latest development in an ongoing convergence of the once-segregated worlds of traditional banking and crypto. 

Under the Biden administration, banks were discouraged from engaging with crypto following a series of events that triggered a market collapse in 2022. Since being re-elected as US President in November and taking the White House in January, Donald Trump has lowered the barriers between the two industries.

That has prompted several banking giants such as JPMorgan, Citigroup and the Bank of America to make moves in the crypto space. More specifically, all of these traditional financial firms have expressed plans to explore their own stablecoin offerings after Trump signed the GENIUS Act into law earlier this month.

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