🚨 🚨 🚨 🚨 🚨 🚨 🚨 173,999,999 #USDC (173,947,799 USD) transferred from unknown wallet to #Coinbasehttps://t.co/SkV3Bf5uqb ...

Core Insights - PNC Bank has launched a service allowing eligible clients to buy, hold, and sell bitcoin directly through its digital banking system, marking a significant step in integrating cryptocurrency into traditional banking services [1][2]. Group 1: Partnership and Offerings - The direct bitcoin trading capabilities are powered by Coinbase's Crypto-as-a-Service (CaaS) infrastructure, representing the first offering from the partnership between PNC and Coinbase announced in July [2]. - Future phases of this offering will include enhanced features and services, with plans to expand access to more client segments [2][4]. Group 2: Market Context and Leadership Statements - PNC's Chairman and CEO, William S. Demchak, emphasized the bank's responsibility to provide secure options for clients as interest in digital assets grows [3]. - Coinbase's co-CEO, Brett Tejpaul, highlighted the collaboration as a model for traditional financial institutions and blockchain-native companies to work together in a compliant manner [3]. - Demchak indicated that PNC would be adding solutions related to cryptocurrency and stablecoins, enhancing their service offerings [4]. Group 3: Industry Trends - Coinbase CEO Brian Armstrong noted that leading banks are embracing cryptocurrency as an opportunity, while those resisting may fall behind [6].

Shares of Coinbase (NASDAQ:COIN) have fallen 11% in the last month, coinciding with a sharp turn in retail investor sentiment across Reddit and X. ...

🚨 🚨 🚨 553 #BTC (51,500,971 USD) transferred from unknown wallet to Coinbase Institutionalhttps://t.co/gx0xzDOoXI ...

美国商品期货交易委员会（CFTC）启动一项计划，允许在严格托管和报告要求下，于注册公司使用比 特币、以太坊和USDC作为保证金，并撤销了此前的限制；Coinbase（COIN）称赞该指引是迈向受监管 本土创新的重要一步。 责任编辑：张俊 SF065 美国商品期货交易委员会（CFTC）启动一项计划，允许在严格托管和报告要求下，于注册公司使用比 特币、以太坊和USDC作为保证金，并撤销了此前的限制；Coinbase（COIN）称赞该指引是迈向受监管 本土创新的重要一步。 责任编辑：张俊 SF065 ...

PNC Bank debuted a service on Tuesday that allows some customers to trade Bitcoin on its banking platform, broadening the asset’s accessibility through Coinbase. The bank said the exchange’s “Crypto-as-a-Service” model underpins the offering, which rolled out to eligible customers following the announcement of a strategic partnership in July. The option is available to customers of PNC Private Bank, its service for high-net-worth customers and business owners. As the eighth-largest commercial bank by assets ...

Core Insights - PNC Financial Services Group has enabled high-net-worth clients to trade Bitcoin directly through their investment accounts, fulfilling a goal set during a partnership with Coinbase established in July [1][3] - This move represents a trend of traditional financial institutions offering digital asset trading services through their platforms, previously dominated by cryptocurrency exchanges like Coinbase [1][3] - Coinbase will provide brokerage services and technical integration support to facilitate Bitcoin transactions of any amount for PNC clients [1][3] Group 1 - The service is currently available only to PNC's private banking clients, including high-net-worth investors and family offices, allowing them to purchase cryptocurrencies using funds from their PNC checking accounts [1][3] - PNC's CEO Bill Demchak expressed concerns about fintech companies encroaching on the bank's client relationships, potentially reducing banks to mere backend service providers [1][3] - Coinbase is increasingly offering custody and trading services to financial institutions looking to enter the cryptocurrency space, likening its growth to Amazon's expansion into cloud services [1][3] Group 2 - As part of the collaboration, PNC also provides banking services such as cash management to Coinbase [2][4] - PNC's Chief Investment Officer Amanda Agati noted that Bitcoin trading is not the bank's first cryptocurrency-related service, as it has previously offered passive ETFs for Bitcoin and Ethereum [2][4] - Agati emphasized that the exploration of digital assets is still in its early stages, and building comprehensive client relationships is crucial to prevent clients from seeking cryptocurrency investments elsewhere [2][4] Group 3 - Agati stated that the current interest from clients is not necessarily due to them being large cryptocurrency investors, but rather their desire to understand the nature, operation, and long-term investment value of such assets [5] - PNC plans to expand Bitcoin trading services to institutional investors, including non-profits, endowments, and foundations next year [5]

Core Insights - PNC Bank has become the first major U.S. bank to offer direct bitcoin trading to its private banking clients, integrating this feature into its digital banking platform [1][4] - The new bitcoin trading feature is powered by Coinbase's Crypto-as-a-Service (CaaS) platform and allows clients to trade bitcoin without needing separate crypto exchange accounts [2][3] Partnership and Development - The partnership between PNC and Coinbase has been in development since 2021 and was formally announced in July 2023 [1][4] - Coinbase provides custody, trade execution, and compliance services, enabling PNC to offer crypto exposure without holding the assets or registering as a crypto broker [3] Market Impact - This collaboration reflects a growing trend of traditional financial institutions embracing digital assets, aiming to meet the increasing demand for secure access to cryptocurrencies [3][4] - The initiative allows high-net-worth clients of PNC to buy, sell, and hold bitcoin within their existing accounts, simplifying their entry into the cryptocurrency market [4]

JUST IN: $410 billion PNC Bank partners with Coinbase to offer direct Bitcoin trading for clients.The first bank to market such an offering among major US banks. https://t.co/bDrxhCF6Qn ...

Today marks a major milestone for institutional bitcoin adoption. PNC becomes the first major U.S. bank to offer direct bitcoin trading to clients. The new service for PNC Private Bank is powered by Coinbase. https://t.co/nknMmjO69O ...