PNC Bank announced the launch of direct spot bitcoin trading capabilities for eligible clients of PNC Private Bank®, making PNC the first to market with such an offering among the major U.S. banks. Powered by Coinbase's Crypto-as-a-Service ("CaaS") market leading infrastructure, PNC has enabled clients to buy, hold and sell bitcoin directly through PNC's own digital banking platform.

The launch marks a key milestone in PNC's strategic partnership with Coinbase, announced in July, to provide trusted, secure and innovative digital asset solutions to PNC's private banking clients.

The first generation of PNC's new "crypto for clients" solution integrates Coinbase's institutional-grade CaaS infrastructure within the PNC Private Bank Online platform. Through Portfolio View, eligible clients can now access crypto custody capabilities to directly buy, hold and sell bitcoin. With more than 100 offices and serving high- and ultra-high-net worth clients, PNC Private Bank is positioned to offer its client base access to the digital asset economy.

Coinbase's Crypto-as-a-Service infrastructure provides PNC with industry-leading solutions for trading, custody and financing, —empowering PNC to advance its crypto business and positioning it as a leader among major banks. Through this partnership, PNC Private Bank clients can now directly buy, sell and securely hold bitcoin through PNC's own digital banking platform, making it easier and safer for them to participate in the crypto market. By integrating these capabilities, PNC Private Bank clients benefit from the convenience of trading and securely storing bitcoin, with the added advantage of having all of their accounts and activities on a single, streamlined platform for greater oversight and simplicity.