A multi-billion-dollar bank is teaming up with the largest crypto exchange in the US to serve institutional investors.

According to a new press release, PNC Bank announces it is partnering with Coinbase for both digital asset and traditional banking services.

While Coinbase will assist PNC with their Crypto-as-a-Service (CaaS) model, allowing clients to buy and hold digital assets, PNC will provide Coinbase with “select banking services.”

Says William S. Demchak, PNC chairman and CEO,

“Partnering with Coinbase accelerates our ability to bring innovative, crypto financial solutions to our clients. We will also provide PNC’s best-in-class banking services to Coinbase. This collaboration enables us to meet growing demand for secure and streamlined access to digital assets on PNC’s trusted platform.”

Added Brett Tejpaul, head of Coinbase Institutional,

“PNC is a market leader in delivering best-in-class products for their clients. We’re thrilled to support their entry into the digital asset market with our leading Crypto as a Service platform, which provides PNC with a powerful set of tools to develop a scalable, high-growth business, built on a foundation of uncompromising security.”

Last month, Coinbase announced that it was partnering with another financial giant, JPMorgan, to launch a token on the exchange’s proprietary Ethereum (ETH) layer-2 blockchain, Base.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

A woman in Pennsylvania is accused of abusing family ties to steal large sums of cash from her mother’s PNC bank account for personal use.

Grove City Police just arrested 55-year-old Lynn Dewey following a bank fraud investigation, reports 21 WFMJ.

According to the criminal complaint, the senior care provider Quality Life Services contacted authorities after Dewey’s 80-year-old mother, who is unable to care for herself and make financial decisions, lost a substantial amount in her bank account.

The facility’s administrators say that the bank statements from December 2023 to present show that Dewey, who had access to the account, transferred funds using the peer-to-peer money transfer service Cash App.

They also say that the mother has over $16,000 in patient liability, with no payments made since January. Medicaid likewise denied medical assistance due to the old woman’s reported income.

The police say that the suspect admitted using Cash App to move money from the PNC bank account and used the funds to purchase groceries and gas, pay personal credit card bills and send money to relatives.

Dewey says she used $41,671.78 for personal expenses. She is now facing charges for financial exploitation of an older adult and theft.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney