CryptoMedium•10 November 2026•
1 min read
Coinbase Secures Federal Trust Charter; PNC Bank Pilots USDC Payments
Key Facts
1Coinbase secured a federal trust charter which took effect on November 6.
2PNC Bank started a limited pilot converting USDC receipts into dollars for eligible clients.
Coinbase secured a federal trust charter which took effect on November 6, 2026, according to TokenPost. Simultaneously, PNC Bank started a limited pilot program allowing eligible Corporate & Institutional Banking clients to receive USDC payments on Ethereum and convert them into US dollars for deposit.
COIN closed at $136.1 on November 9, 2026, with a day high of $139.75 and a day low of $131.1. The regulatory approval follows a preliminary decision by the Office of the Comptroller of the Currency (OCC) that limits the entity to trust-company operations and fiduciary digital-asset custody rather than general commercial banking.