Update
PNC Bank Tests USDC Payments Conversion to Dollars
PNC Bank, the eighth-largest US bank by assets, launched a limited pilot allowing eligible corporate and institutional clients to receive USDC payments on Ethereum. USDC is a US dollar-backed stablecoin issued by Circle. Payments are automatically converted into dollars and deposited into designated PNC accounts. The pilot aims to speed up access to funds and improve cross-border payment efficiency. PNC did not disclose fees, settlement-time benchmarks, or the number of participating clients, nor did it respond to Cointelegraph’s request for additional details.