PwC moved from cautious engagement to an expanded digital‑assets strategy after a change in the U.S. regulatory environment, Paul Griggs, PwC U.S. senior partner and CEO, said. The firm retooled offerings to capture demand around stablecoins, tokenization and institutional‑grade services.
Griggs attributed the pivot to a reduction in regulatory uncertainty after new leadership at key U.S. agencies and recent legislation. The source material noted the GENIUS Act was passed in July 2025 and required 100% reserve backing for stablecoin issuers and closer alignment with the Bank Secrecy Act, a development the CEO said strengthened institutional confidence.
That legal clarity, combined with growing market demand for tokenized assets and cross‑border stablecoin payments, prompted PwC to move beyond observational work and offer deeper, integrated support to clients navigating the digital‑asset landscape.
The shift matters because it signals how regulatory clarity can alter risk calculations for legacy professional‑services firms and accelerate the institutionalization of crypto products.
What PwC built and where it aims to play
PwC expanded a suite of services to act as a one‑stop provider for institutional clients. The firm positioned itself to advise on tokenized securities, staked ETPs and stablecoin use cases while offering operational and compliance support.
Griggs framed the expansion as deliberate rather than opportunistic: ‘They are expected to create more conviction around leaning into that product and that asset class,’ he said, referring to the combined effect of legislation and agency rulemaking.
For users and market participants, the firm’s wider capabilities mean more institutional support for structuring, auditing and securing digital‑asset products. That reduces barriers for corporations and asset managers seeking regulated pathways into stablecoins and tokenized offerings, while concentrating professional oversight into the hands of legacy advisers.
Investors and industry participants are now watching the implementation of stablecoin rulemaking and the rollout of tokenized and staked products; those developments will test whether the regulatory shift sustains the commercial case PwC and its peers have built around mainstream digital‑asset adoption.
