PNC Introduces Direct Bitcoin Trading for Private Bank Clients Through Coinbase Integration

PNC Bank has launched direct spot Bitcoin trading for eligible clients within its private banking division. 

The service is available through the bank’s Private Bank Online platform and allows approved users to buy, sell, and hold Bitcoin within PNC’s digital banking system rather than through a third-party exchange.

The service operates through Coinbase’s Crypto-as-a-Service (CaaS) infrastructure, which provides trading execution, custody, and settlement. These functions are integrated into PNC’s Portfolio View interface. 

The launch follows a strategic partnership between PNC and Coinbase that was announced earlier this year.

The move comes as several U.S. financial institutions expand their involvement with digital assets in different ways. 

Bank of America recently allowed its wealth advisers to recommend a 1%–4% Bitcoin and crypto allocation using regulated exchange-traded products, reflecting a broader effort by large firms to formalize client access to Bitcoin-related investments.

PNC Private Bank serves high- and ultra-high-net-worth individuals and family offices through more than 100 offices nationwide. 

Chairman and CEO William Demchak said, “as client interest in digital assets continues to grow, our responsibility is to offer secure and well-designed options that fit within the broader context of their financial lives.” 

He added that the collaboration allows clients to transact in Bitcoin “in a controlled and familiar environment” consistent with the bank’s regulatory and risk standards.

Under the agreement, Coinbase provides the execution and custody infrastructure, while PNC maintains the direct relationship with its clients. 

Coinbase Institutional co-CEO Brett Tejpaul said the partnership reflects how digital asset firms and traditional financial institutions can work together to provide access to Bitcoin and crypto under existing regulatory frameworks. 

He compared Coinbase’s role to that of cloud providers such as Amazon Web Services, which supply core infrastructure while banks manage client interactions.

At launch, the service is limited to PNC Private Bank clients. Bitcoin purchases can be funded using existing PNC investment management and checking accounts. 

PNC executives described the rollout as an initial phase of a broader digital asset initiative. The bank previously offered indirect exposure to Bitcoin and crypto through exchange-traded funds, but this is its first deployment of direct spot trading.

PNC stated that it plans to expand the service to additional client groups in future phases, including institutional clients such as nonprofits, endowments, and foundations.