Banks are now all in crypto, at least the US ones. And recently, reports came that PNC bank is partnering with Coinbase to bring a crypto offering to its customers. They are the 5th largest in the US, and this partnership will be very important for the company, the bank and the industry. There have been no solid reports on the project, but we could expect investment funds or a crypto desk for clients.
The crypto offering
Coinbase has formed numerous partnerships with big companies in the past as well. And their latest shareholder letter did mention PNC Bank, which confirms the reports. After the partnership, the bank will be able to provide smooth access to crypto to its clients. This is just a warm-up for the bank as they plan to implement a more solid and wide blockchain strategy very soon.
Coinbase is the largest crypto exchange in the US, and it is clear that this partnership will be great. The exchange will help PNC achieve its goal of a more crypto-centric approach and push innovation. But do take all this with a pinch of salt as neither Coinbase nor the bank has given an official statement yet.
Bitcoin and Ethereum shows bullish signs
.Markets are becoming bullish again, and this is great news for anyone who has invested in cryptocurrency. If Bitcoin becomes bullish, we all know altcoins jump in prices, often recording double-digit gains. And this, combined with the fact that a golden cross is just 3-4 days away, we might be witnessing another bull run soon. Massive FOMO is incoming if the golden cross happens and if Bitcoin is able to break the $46k resistance.
Ethereum has also been pumping quite a lot and is facing strong resistance at $3,200. Unless Bitcoin clears $46k, it is unlikely that ETH will be able to clear this resistance. At present, Ethereum is leading the pack of altcoins as it has recovered most of its losses and is just a few candles behind the ATH.
What are your thoughts on the fact that PNC Bank is partnering with Coinbase? And do you think this is going to be a good thing for the industry? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.
Also Read: Metromile reveals Bitcoin purchase of $1 million in Q2 results.