Theo Odaily, PNC, one of the top ten banks in the United States, has launched a Bitcoin trading service for high-net-worth clients. Through a partnership with Coinbase Global Inc., clients can now trade Bitcoin directly through their investment accounts.
This service is currently limited to PNC's private banking clients, who can purchase crypto through their own investment management accounts, typically funded from their payment accounts at PNC. Brett Tejpaul, co-CEO of Coinbase Institutional, stated that Coinbase is providing brokerage services and integrating technology through the partnership to facilitate Bitcoin transactions of any amount.
PNC's CEO, Bill Demchak, declared that fintech companies are trying to separate the relationship between banks and their clients, and PNC has no reason for this to happen. PNC's Chief Investment Officer Amanda Agati mentioned that although the bank previously offered passive ETF funds for Bitcoin and Ethereum, the exploration of the bank's digital assets is still in the early stages, and this move aims to maintain the integrity of the relationship with clients.#btc $BTC
