
The SEC's move to open a regulated pathway for tokenized U.S. stocks stands to create new opportunities in custody, tokenization infrastructure and stablecoin settlement, with Coinbase, Robinhood and Circle among the early winners, according to Goldman Sachs and Citizens analysts.
The five-year Innovation Exemption lets blockchain venues list tokenized securities with full shareholder rights without registering as a full exchange, while synthetic stock tokens stay outside the framework. Analysts say the lighter-touch pathway also gives brokers room to expand onchain products.
CoinDesk