Yahoo Finance·2025-12-09 14:07Core 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]