TLDR
- PNC Bank partnered with Coinbase to offer crypto services through Coinbase’s Crypto-as-a-Service platform
- PNC customers can now buy, hold, and sell crypto directly through their bank without needing separate exchanges
- PNC will also provide banking services to Coinbase as part of the two-way partnership
- The move makes PNC one of the largest US banks to launch crypto services at scale
- Analysts raised price targets for both companies following the announcement
PNC Bank announced a partnership with Coinbase on Tuesday to offer cryptocurrency services to its customers. The Pittsburgh-based financial services corporation will integrate Coinbase’s Crypto-as-a-Service platform into its existing banking infrastructure.
Massive win.
PNC gets crypto trading via Coinbase (crypto-as-a-service).
Coinbase gets banking services via PNC.
This comes just one day after JPM saying they'd consider crypto backed loans.
Every bank is now sprinting on their crypto strategy. pic.twitter.com/Yb7plsWgwt
— Yano 🟪 (@JasonYanowitz) July 22, 2025
The partnership allows PNC customers to buy, hold, and sell cryptocurrencies directly through the bank’s platform. Customers no longer need to use separate cryptocurrency exchanges or create additional accounts to access digital assets.
PNC will also provide banking services to Coinbase as part of the two-way agreement. The collaboration represents a mutual benefit structure where both companies expand their service offerings.
“Partnering with Coinbase helps us quickly offer innovative crypto solutions to our clients,” said William S. Demchak, PNC chairman and CEO. “We’ll also provide Coinbase with our top-tier banking services, meeting the growing demand for secure access to digital assets on PNC’s trusted platform.”
PNC manages $421 billion in client assets and becomes one of the largest American banks to launch crypto services at this scale. The bank did not disclose a specific timeline for when the crypto services will become available to customers.
Growing Bank Interest in Cryptocurrency
Traditional US banks are increasingly embracing cryptocurrency services after years of cautious approaches. JPMorgan Chase and Citigroup have announced plans to get involved in stablecoin offerings.
Bank of America CEO Brian Moynihan stated the bank is trying to understand client demand before its stablecoin rollout. The trend shows banks seeking deeper ties with crypto firms under the current regulatory environment.
“Traditional finance is slowly waking up to crypto’s call and is vying for a piece of the pie,” said Gadi Chait, Xapo Bank’s Investment Manager. Banks are working to avoid missing opportunities in the expanding cryptocurrency market.
Market Response and Analyst Activity
Following the announcement, shares of PNC Financial Services Group rose 0.59% according to Google Finance data. The market responded positively to the bank’s entry into cryptocurrency services.
Coinbase experienced increased analyst attention with both Piper Sandler and Cantor Fitzgerald raising their price targets for the company. Piper Sandler increased Coinbase’s price target to $350 from $190, citing a more positive outlook for digital assets.
Coinbase’s crypto-as-a-service platform provides partners with custody and trading tools that would otherwise be expensive to build independently. The platform serves as an entry point for banks testing cryptocurrency offerings.
The partnership positions both companies to benefit from growing demand for regulated cryptocurrency access through traditional banking channels.
