PNC Financial Services Group Inc. (NYSE: PNC) is joining the cryptocurrency revolution. The bank's Treasury Management division will soon start accepting cross-border transactions using Ripple's product, xCurrent, according to CoinDesk.com.
For now, PNC will only be accepting inbound transactions using the product.
And because the platform will help lower fees and make transactions faster, PNC has customers lining up to use xCurrent.
This is a big step for the crypto market, as PNC is one of the largest banks by assets in the United States.
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It will help more large institutions realize the benefits of crypto payments.
Here is a recap of the top five cryptocurrencies by market cap as of 10:30 a.m. ET:
|Cryptocurrency||Market Cap||Price||Change (24h)|
|Bitcoin Cash (BCH)||$7,457,763,879||$429.67||-2.61%|
The Top Cryptocurrency Stories for Sept. 19
- Trading platform OKCoin will list five new cryptocurrency coins for trading, according to VentureBeat.com. In a move to offer more diversity, OKCoin will list XRP, Cardano (ADA), Stellar, Zcash (ZEC) and 0x (ZRX).
- Even though Asian officials have a complicated relationship with cryptocurrencies, the demand for Bitcoin is still huge overseas. According to Don Wilson, the founder of high-speed trading firm DRW, the trading of Bitcoin derivatives during Asian business hours is almost equal to the volume he has seen traded in the United States.
- Finally, the U.S. Securities and Exchange Commission (SEC) commissioner, Hester Peirce, offered some support for the crypto market. She said that the government should not limit the emergence of new products because of perceived "weaknesses" associated with Bitcoin.