Coinbase, Nasdaq, S&P Global Seen As 2026 Fintech Winners By Clear Street

The firm, in a note to investors, said that it expects tokenization, IPO recovery, and easing rates to drive fintech upside in 2026.

• According to EY, there is a robust pipeline of future offerings in the Americas.
• Coinbase recently launched ‘Coinbase Tokenize’ to enable the tokenization of traditional assets, such as stocks.
• Nasdaq has already applied to the SEC for approval to trade tokenized stocks.

Stocks of fintech firms like Coinbase, Nasdaq, and S&P Global drew investors' attention on Friday after Clear Street named them its top ideas in the financial technology space for 2026.

As per TheFly, the firm said in a note to investors that the key themes next year will be tokenization, artificial intelligence fraud, automatic shopping, a recovery in initial public offerings, and lower interest rates, potentially helping firms.

Nasdaq and S&P Set To Benefit From Strong IPO Pipeline

Nasdaq saw strong earnings in 2025 as more companies, especially in the technology sector, tested the waters of initial public offerings (IPOs), helping U.S. exchanges seize the equity market comeback. 

Meanwhile, S&P Global, which creates and maintains stock market indices such as the S&P 500, saw a boost in demand for its analytics products as investors sought more data to analyze new listings.  

Firms benefited from strength in equity markets and robust investment in the AI sector, which allowed companies to stay on their heels for the listings. According to a EY report, 1,293 IPOs raised $171.8 billion globally, reflecting a 39% increase in proceeds across a fairly static number of deals compared with 2024.

A robust pipeline of future offerings is expected in the Americas. EY noted that IPO activity could accelerate if aftermarket performance remains strong and macroeconomic conditions are favorable.

Tokenization Emerges As Key Fintech Growth Driver 

Despite a challenging year for cryptocurrencies, especially bitcoin, firms around the world are increasingly moving towards tokenization, as it offers a new way to own digital assets. Tokenization has been hailed by several high-profile figures, such as Larry Fink, who recently said that all assets should be tokenized.

Firms like Nasdaq and Coinbase are actively entering the tokenization space by launching products and seeking regulatory approvals. Earlier in the year, Nasdaq filed a proposal with the Securities and Exchange Commission (SEC) to allow investors to trade tokenized versions of stocks on its exchange, in addition to the traditional digitized format.

Coinbase also recently launched ‘Coinbase Tokenize’ to bring traditional assets, such as stocks, into tokenization.

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