PNC Bank has launched a new service allowing corporate clients to receive payments in USDC stablecoins on the Ethereum blockchain. The solution is powered by payment products from Coinbase, marking an expansion of the existing partnership between the two organizations.
According to the bank, this initiative aims to provide businesses with faster and more efficient transaction capabilities. The move aligns with PNC's broader strategy to enhance its treasury management services and offer a wider range of immediate payment options to its customers.
In addition to digital asset developments, PNC is scaling its physical presence. The bank plans to open more than 370 new branch locations by 2031, a figure that includes over 70 branches already established since the expansion program began.
This growth in physical infrastructure occurs as major U.S. financial institutions increase their investment in brick-and-mortar networks. Data from the FDIC indicates that the total number of bank branches in the U.S. reached 69 167 by the end of last year.
