Goldman Sachs and Citizens analysts identify Coinbase, Robinhood, and Circle as primary beneficiaries of the SEC's push into tokenized stock infrastructure and onchain settlement.
Coinbase is positioned as an early winner in custody and tokenization infrastructure following the SEC's tokenized-stock push.
Robinhood could benefit from expanded onchain product offerings as brokers gain room under the SEC's tokenized-stock initiative.
Circle's stablecoin settlement infrastructure is likely to see increased demand from tokenized stock transactions.
Analysts at Goldman Sachs and Citizens suggest the SEC's latest move toward tokenized stocks creates significant opportunities for financial infrastructure providers. Coinbase and Robinhood are expected to lead in custody and onchain product expansion, while Circle stands to benefit from increased demand for stablecoin settlement services.
The regulatory shift provides brokers like Robinhood and Coinbase with a clearer framework to expand their onchain product suites and custody services.