Coinbase Partners With Leading American Bank Pnc By DailyCoin – Investing.com

Coinbase Partners With Leading American Bank Pnc By DailyCoin – Investing.com

Financial institutions are increasingly becoming interested in crypto after the industry’s stellar performance. While the crypto market crashed mid-May, investors remained bullish on cryptocurrencies, forcing mainstream banks to forge ways to keep their clients satisfied.

In its Q2 shareholder letter, the San Francisco-based exchange Coinbase unveiled that PNC, the fifth-largest commercial bank in the US, has jumped on the crypto bandwagon. Coinbase has partnered with PNC alongside other industry leaders including Elon Musk, SpaceX, Tesla (NASDAQ:), Third Point (NYSE:) LLC, and WisdomTree Investments (NASDAQ:).

While Coinbase did not delve into details, a source had previously disclosed that the Pittsburgh-based national bank intends to launch a crypto initiative soon. This service would offer PNC seamless access to cryptocurrency investments for its customers.