PNC Pilot Accepts USDC Payments on Ethereum Network via Coinbase Payments

Odaily reports: PNC Bank has launched a small-scale pilot in which eligible corporate and institutional clients can receive USDC payments on the Ethereum network through the Coinbase Payments product. Funds are automatically converted to USD and deposited into designated PNC accounts, so clients do not need to hold USDC.

PNC stated that the service is designed to accelerate fund arrival and improve cross-border payment efficiency. The bank did not disclose the associated fees, settlement time benchmarks, or the number of participating clients. (Cointelegraph)