According to CoinMeta, PNC Bank has announced a partnership with Coinbase, allowing eligible corporate and institutional clients to use USDC issued by Circle for receiving and making payments. The funds received will be automatically converted into US dollars. This service will be launched initially in a small-scale pilot format. PNC, the person in charge of fund management products and operations, Tom Lang, stated that the pilot is aimed at jointly testing the functions of stablecoins with clients. PNC already provided cryptocurrency trading to clients through Coinbase's “crypto as a service” platform last year, and for Coinbase.