PNC Bank pilot converts USDC payments on Ethereum into dollar deposits

PNC Bank is piloting a service that lets eligible corporate and institutional clients accept USDC payments on Ethereum, with each token converted to one US dollar before deposit. The move links a major US bank to stablecoin settlement rails, giving institutional users a path from on-chain payments to insured dollar deposits. Traders would read it as another sign of mainstream banking adoption of stablecoins, supportive for USDC volume and Ethereum-based payment flows.