A source claimed that PNC, the USA’s biggest bank, is planning to offer crypto investment services to its client base. On Tuesday, Coinbase stated that the company is on board with PNC Bank, the fifth-largest bank in the U.S. Both of them are working on a hidden crypto project.
In Tuesday’s letter to shareholders Coinbase wrote that “in recent months, the company has developed ties with market leaders including Elon Musk, PNC Bank, SpaceX, Tesla, Third Point LLC, and WisdomTree Investments.” However, Coinbase declined detailed elaboration of the project.
A resource previously claimed that PNC Bank is expected to launch its crypto investment services in the coming quarters. The service would give the Pennsylvania-based national bank easy access to crypto investments for its customers. The crypto services plan is only one aspect of PNC’s broader scale planning regarding crypto and digital assets.
PNC is the latest addition to the list of Banks who entered the crypto market, and perhaps the largest bank to form a joint venture with Coinbase, the biggest name of the Crypto Industry. PNC is already inclined towards crypto-friendly policies and in the future PNC bank will have digital market experts on its payroll.
The position of crypto product manager- will provide PNC with leverage on the crypto market as it explores the “continuous innovation cycle.” Experts have said that the description of the job tells that PNC’s plans are more than just offering investment services to its client.
The detailed job description emphasized scaling operations for crypto investment capacity and managing operational aspects regarding new crypto ventures. It seems that PNC Bank has a history regarding crypto-centric ventures. Previously PNC Bank joined hands with IBM and Aetna to search medical data blockchain regarding the health sector.
These big market players joined their hands to improve the overall data medical framework through which the highly sensitive data is shared. The plan also included making health claims and transactions more efficient and easily accessible to the customers.
The top leadership said that Bank’s vision is to transform industries by installing state-of-the-art digital technologies to make the industry more efficient and customer friendly. Outside these two crypto aspects, PNC Bank has been working on other blockchain practices as well. PNC also working with other banks to look into Ripple’s x existing crypto transaction services for cross-border payments.
Chris Ward the head of the Bank’s treasury department, said that digital technologies can remove hurdles, repetitions, and administrative costs.
The visions shared by Chris Ward clearly show that PNC Bank considers the digital world as a problem solver and the most decisive factor to shape up the world’s economic trends in coming years.
