Barclays PLCBARC
▲ PositiveCapitalrelevance
Barclays contributed to the report's analysis, which estimates significant economic benefits from tokenisation, potentially boosting its advisory business.
Impact on stocks 1
Financials▲ · 1 stocks
Barclays PLCTheme Impact 1
Off-coverage companies 1
PricewaterhouseCoopersPrivate▲ Positive
Capitalrelevance
PwC co-authored the analysis with Barclays, highlighting its consulting role in tokenisation, which could drive future revenue.
Related news
▲2
Bitcoin Tops $81,000 as Short Squeeze Offsets Rate and Regulatory Pressure
Bitcoin surged above $81,000 on Saturday as a wave of short liquidations and renewed spot demand helped the cryptocurrency rebound from losses triggered by higher interest rates and a setback for U.S. crypto legislation. Bitcoin climbed as high as $81,702 on Sept. 18 after trading near $76,400 a day earlier, marking its first move above $80,000 since Sept. 7, and was trading at $81,309.4 as of 22:50 ET, up 5.62% for the day. The rebound followed a difficult week in which the Federal Reserve raised interest rates by 25 basis points and the Bank of Japan followed with a quarter-point increase to 1.25%, its highest policy rate in 31 years, while U.S. spot Bitcoin ETFs recorded about $159 million of inflows on Sept. 17. A sharp short squeeze then accelerated Friday's rally, with roughly $192 million of leveraged crypto positions liquidated within one hour, including more than $183 million in shorts, of which Bitcoin shorts accounted for about $119 million. Regulatory uncertainty remains in focus after the U.S. Senate failed to advance the CLARITY Act this week, though the CFTC has submitted a separate crypto market proposal to the White House Office of Management and Budget and the SEC introduced an innovation exemption giving qualifying platforms a five-year route to offer onchain trading in certain tokenized stocks without registering as securities exchanges.
2impact 4
S&P Global Acquires OpenZeppelin to Rate Smart Contract Risk
S&P Global announced on September 17, 2026 that it has acquired OpenZeppelin, the industry standard for smart contract security, in a move that extends the ratings firm's risk-assessment mandate into the technology-risk layer of digital assets. OpenZeppelin's libraries underpin over $37 trillion in cumulative transfers and power 8 of the top 10 stablecoins, including USDC, and 10 of the top 10 tokenized money market funds, such as BlackRock's BUIDL and Franklin Templeton's BENJI. OpenZeppelin will operate as a separate business unit led by CEO Demian Brener, who will report directly to Yann Le Pallec, President of S&P Global Ratings. The deal lands on the same day the SEC granted a 5-year exemption for tokenized NMS stock trading, aligning with the broader GENIUS Act framework, and ahead of the DTCC Tokenization Service launch in October 2026. S&P Global is positioning itself as the gatekeeper of the technical standards regulators are expected to require for tokenized markets.
▲impact 4
SEC Unveils Trading Framework for Tokenized Stocks, S&P Acquires OpenZeppelin, DeFi Market Cap Hits $80 Billion
The U.S. Securities and Exchange Commission introduced a provisional, conditional exemption allowing certain tokenized U.S.-listed equities to trade on-chain under specified conditions, while S&P Global agreed to acquire OpenZeppelin, a firm specializing in smart contract security infrastructure. The SEC measure, set out in a "Statement on Innovation Exemptions" signed by Commissioner Mark T. Ueda, guarantees holders of equity tokens the same rights as holders of conventional shares and requires third parties to notify the issuer of the underlying stock in writing before dealing in tokenized shares. According to S&P Global, OpenZeppelin's technology has supported the transfer of more than $37 trillion in value cumulatively, including major stablecoins and tokenized funds. Following these announcements, the market capitalization of DeFi-related tokens rose about $7 billion on Friday, climbing 8.8% to $79.8 billion, while the total market capitalization of the broader crypto market rose 4% to $2.7 trillion. Hyperliquid's HYPE jumped 10.8% to an all-time high of about $90.46, giving it a market capitalization of $20.12 billion; Uniswap's UNI rose 29.1% over 24 hours to about $9.00, for a market capitalization of $5.59 billion; and Aave's AAVE gained 9.5% to about $135.28. Bitwise Chief Investment Officer Matt Hougan said the SEC is trying to put in place as much of a crypto regulatory framework as it can under its existing authority, and described tokenization as a massive tide.