marketNovember 10, 2026
PNC Bank Tests Converting USDC Into Dollar Deposits
US bank PNC has launched a pilot service for accepting payments in USDC on the Ethereum network. Incoming stablecoins are automatically converted into dollars at a 1:1 rate through Coinbase infrastructure and credited to clients' bank accounts.
The solution is intended to speed up international settlements and make funds easier for companies to access. At present, only a limited group of corporate and institutional clients can use the service as part of the pilot program.
For those who hold or exchange cryptocurrency, the news shows that banks continue to connect stablecoins to regular dollar accounts through partner infrastructure.