PNC Pilots Stablecoin Payment Acceptance Service for Business Clients

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PNC is partnering with Coinbase to pilot stablecoin payment acceptance for business and institutional banking clients, allowing businesses to receive Circle’s USDC. After funds arrive via the Ethereum blockchain, they are automatically converted to dollars at a 1:1 rate and deposited into PNC deposit accounts; the pilot currently supports receiving USDC only, and any expansion will depend on client demand and usage.