Nubank and Mercado Pago restrict cryptocurrency transfers
Both companies said customer funds were secure. It remained unclear whether the disruptions involved the same outside provider.
PNC and Coinbase plan stablecoin payment pilot for business clients
Eligible clients will receive Circle’s USDC, with payments automatically converted into US dollars.
PNC Bank and cryptocurrency exchange Coinbase are preparing a service that will allow eligible corporate and institutional customers to accept stablecoin payments. The companies said access will be limited initially under a pilot program.
Payments received in Circle’s USDC stablecoin will be converted automatically into US dollars. The companies said the service would give businesses faster access to their money and speed up cross-border payments, citing the near-instant transfer capabilities of stablecoins.
Tom Lang, PNC’s head of treasury management product and operations, described the initiative as an opportunity to test the technology with customers and identify which potential stablecoin features could benefit them.
The project extends an existing relationship. Last year, Pittsburgh-based PNC selected Coinbase’s institutional crypto-as-a-service platform to provide cryptocurrency trading for its customers. PNC also said it would provide Coinbase with banking services. Alec Lovett, Coinbase’s head of infrastructure products, described the payments initiative as part of closer ties between traditional financial institutions and crypto infrastructure.