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PNC Bank launches Bitcoin trading services in partnership with a compliant platform
Source: DigitalToday Original Title: PNC Bank launches Bitcoin trading service in partnership with Coinbase Original Link:
PNC Bank has announced a partnership with a compliant platform to launch Bitcoin trading functionality within its own digital platform.
The core of this service is to provide high-net-worth clients with the ability to buy, sell, and hold Bitcoin.
PNC Bank is the eighth largest commercial bank in the United States (according to Federal Reserve standards), with assets of approximately $564 billion and over 2,300 branch locations. The service will first be rolled out to private banking customers and then gradually expanded to the general customer base.
The pace of cryptocurrency adoption among U.S. banks has recently accelerated. Bank of America plans to offer four Bitcoin ETF products to asset management clients starting next year, while JPMorgan Chase allows crypto ETFs to be used as loan collateral and includes crypto holdings in clients’ net asset evaluations.