PNC Bank has launched a small-scale pilot with Coinbase Payments that enables eligible corporate and institutional clients to receive USDC payments on the Ethereum network. The funds are automatically converted into U.S. dollars and deposited into designated PNC accounts, so clients do not need to hold USDC. PNC said the service is intended to accelerate fund availability and improve cross-border payment efficiency. The bank has not disclosed fees, settlement-time benchmarks or the number of participating clients. PNC, which has $627 billion in assets, has an existing relationship with Coinbase that includes cryptocurrency trading access through Coinbase’s Crypto-as-a-Service platform and banking services provided to Coinbase. The pilot uses Circle’s U.S. dollar stablecoin and allows PNC to assess which stablecoin features are most useful to clients.