Coinbase claims to be working alongside companies like PNC Bank, SpaceX and Tesla.
A source claims that, in the coming months, the bank will make its foray into bitcoin official.
Major U.S. banks as customers demand more exposure to bitcoin (BTC), they are making their way the cryptocurrency market.
As revealed in the second quarter report from cryptoasset exchange Coinbase, PNC Bank, the fifth-largest U.S. bank by assets, has partnered with the platform to gain access to bitcoin
, filed on August 10, indicates that many customers have selected Coinbase as their exclusive source of access to cryptocurrencies. “In recent months, we have formed partnerships with industry leaders, including Elon Musk, PNC Bank, SpaceX, Tesla, Third Point LLC and WisdomTree Investments,” they noted.
Although the bank based in the city Pittsburgh, has not confirmed the information, a source from the financial institution indicated that in the coming quarters will be made official the adoption of bitcoin, according to
Apparently, the intention of PNC Bank, which operates in 21 states, is to give “smoother access to cryptocurrency investments for its customers,” the source said
It is worth remembering that PNC Bank belongs to PNC Financial Services Group, Inc, a bank holding company and financial services corporation that includes life insurance.
In that regard, the bank released a report
last June called “Cryptocurrencies and Blockchain Technology in Healthcare.” The brief explains that cryptocurrencies and blockchains “are driving a digital transformation and going mainstream, healthcare finance leaders should pay attention.”
PNC Bank would join
the big banks that accept bitcoin
If PNC Bank’s exposure to bitcoin is confirmed in the coming months, it is going to be part of the list of large U.S. banks that have embraced the cryptocurrency to a lesser or greater extent.
Recently, CryptoNews reported that JP Morgan Chase’s private banking unit is offering its wealthy clients a bitcoin fund. Last July, it also extended bitcoin and cryptocurrency trading services to all of its clients.
State Street, the second oldest active bank in the United States, will also provide support to its private investment fund clients for the collection, standardization, processing and reporting related to cryptocurrencies and other digital assets.