PNC Bank tests turning USDC payments into dollar deposits

Bullish+0.02%

9 Nov, 17:48

Source: Cointelegraph

AI Summary

PNC Bank launches a pilot enabling corporate clients to accept USDC payments on Ethereum, converting tokens directly to USD deposits, highlighting expanding institutional stablecoin utility.

PNC Bank tests turning USDC payments into dollar deposits

The pilot lets eligible corporate and institutional clients accept USDC on Ethereum, with each token converted to one US dollar before deposit.