Another U.S. bank plans to offer bitcoin to its customers, in partnership with Coinbase

Key facts:
  • 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

.

The document

, 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

Coindesk. Another U.S. bank plans to offer bitcoin to its customers, in partnership with Coinbase A source says that the financial institution in the coming months will announce new policies related to bitcoin. Source: Gajus-Images / elements.envato.com

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.”

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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.

Morgan Stanley, a well-known financial institution, became the first traditional bank to offer bitcoin purchases to its clients.