PNC Opens USDC Payment Pilot for Corporate Clients With Coinbase

PNC Bank said on Monday, November 9, in Pittsburgh that it has opened a limited pilot that lets eligible corporate clients receive payments in USDC. USDC is a dollar-backed stablecoin issued by Circle. The pilot covers eligible clients in PNC's Corporate and Institutional Banking business.

The service uses Coinbase Payment products. The payments run on the Ethereum blockchain. Each payment in USDC is automatically converted 1-to-1 into US dollars. The dollars are then deposited into a designated PNC deposit account.

That design lets clients accept stablecoin payments without holding the tokens. The client receives dollars in a deposit account, not USDC in a wallet. PNC offers the service on a limited basis to eligible clients as a pilot.

How the Pilot Works

A client in the pilot can receive a payment sent in USDC. The payment moves on the Ethereum blockchain. Coinbase Payment products power the service. The conversion happens automatically at a 1-to-1 rate into US dollars.

The end point is a designated PNC deposit account. That account receives the converted dollars. The client does not need to hold the tokens after the payment arrives. The structure keeps the final deposit in dollars.

PNC has not disclosed fees for the pilot. It has not disclosed volumes. It has not given a general launch date. The bank describes the offer as limited and as a pilot, not as a full launch for all clients.

Cointelegraph describes PNC as the eighth-largest US bank by assets. The size of the bank gives the pilot weight in the US banking market. A large bank testing incoming stablecoin payments is a notable step for corporate payment services.

Built on a 2025 Partnership

The pilot builds on work that started earlier. In July 2025, PNC chose Coinbase's crypto-as-a-service platform. At that time, PNC also agreed to provide banking services to Coinbase. The new pilot grows out of that partnership.

Tom Lang leads the product side involved in the launch. He is PNC's head of treasury management product and operations. His role covers treasury management products and operations at the bank.

Corporate and Institutional Banking clients are the focus. Eligible clients in that business can take part on a limited basis. PNC has not said that the service is open to all customers. It has not set a date for a wider release.

What Happens Next

The next facts to watch are the ones PNC has not yet disclosed. Fees remain undisclosed. Volumes remain undisclosed. A general launch date remains undisclosed. Until PNC shares those details, the pilot stays a limited test for eligible corporate clients.

For clients in the pilot, the offer is clear. They can receive USDC payments on Ethereum through Coinbase Payment products. They receive dollars in a designated PNC deposit account after automatic 1-to-1 conversion. They can accept the payments without holding the tokens.

This is not financial advice. Do your own due diligence.