PNC Bank has started a limited pilot that lets some of its clients receive payments in USDC. PNC is the eighth-largest bank in the United States by assets. Only eligible corporate and institutional clients can take part, and the payments are handled through Coinbase.
The pilot accepts USDC sent on the Ethereum network. Each USDC token is converted into one US dollar, and the client receives the money as a dollar deposit. The client gets a deposit in dollars, not a USDC balance.
Cointelegraph reported the pilot on Nov 9, 2026. The report does not name the clients taking part. It also does not say how long the pilot will last, whether it will open to more clients, or whether other networks or stablecoins will be added.
For someone already holding a perpetual position on Bitget, Bybit, MEXC or OKX, this changes nothing directly. The pilot does not touch exchange funding rates, trading fees or order-book liquidity. It is a bank deposit service for a limited group of corporate and institutional clients.
Source: cointelegraph — PNC Bank tests turning USDC payments into dollar deposits
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