PNC, Coinbase to Partner on Digital Assets, Expanding Banking Services

By Denny Jacob

PNC Financial Services Group and Coinbase Global said they will strategically partner and offer services to each other, the latest sign that traditional finance and cryptocurrency are integrating further.

The partnership will expand access to digital-asset solutions to PNC's banking clients and institutional investors. PNC will also provide select banking services to Coinbase, the largest cryptocurrency exchange in the U.S.

The companies said they will work together to develop an initial offering that will allow clients to buy, hold and sell cryptocurrencies.

The development comes as the world of crypto moves closer to mainstream finance, a trend that has picked up under the Trump administration. President Trump last week signed the Genius Act into law, making it the first major legislation governing digital currency.

Write to Denny Jacob at denny.jacob@wsj.com