PNC is testing a service with eligible clients in its Corporate & Institutional Banking division that allows them to receive USDC and convert the funds one-for-one into US dollars. The converted money is deposited into a designated PNC bank account, while Coinbase provides the payment infrastructure. Ethereum is the only supported blockchain for the time being, and the service is operating as a limited pilot. Public announcements do not provide a complete fee schedule or processing times, but the approach is intended to let businesses accept stablecoins without holding digital assets.
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