PNC Bank, the fifth-largest bank in the United States, plans to offer its customers cryptocurrency investment services, Coinbase has reported.
According to a letter shared by the platform yesterday with its shareholders:
“In recent months, we have formed partnerships with industry leaders including Elon Musk, PNC Bank, SpaceX, Tesla, Third Point LLC, and WisdomTree Investments.”
The service, which is part of the bank’s efforts related to digital assets and blockchain, would allow the bank’s users to easily make investments in cryptocurrencies.
Notably, PNC is the second major bank to make the leap into digital assets and the largest to do so with Coinbase.
The institution has been working on its expansion into cryptos for some time, since it started hiring specialized staff in the sector a few months ago.