BNY Mellon is adding crypto staking to its Digital Asset Custody platform through a new partnership with Galaxy Digital, aiming to give institutional clients a streamlined, institutional-grade path into proof-of-stake networks. Under the agreement announced Tuesday, Galaxy will act as a design partner to help integrate staking into BNY’s broader servicing model. Eligible institutional clients will be able to access staking alongside existing back-office services — custody, fund accounting, tax reporting, payments and client reporting where applicable — so institutions can participate in digital asset markets without sacrificing the operational controls and asset protections of BNY’s custody model. The two firms say they will fold custody and staking into a single, unified offering: BNY provides the custody infrastructure and governance, while Galaxy brings operational know-how for proof-of-stake (PoS) networks. The goal is to deliver a secure, seamless staking experience that institutional clients can adopt through familiar custodial workflows. “As digital assets continue to evolve, clients want more than safekeeping alone — they want a broader set of capabilities delivered through an institutional-grade model,” said Carolyn Weinberg, Chief Product and Innovation Officer at BNY Mellon. She called Galaxy “an early client” of BNY’s Digital Asset Custody platform and said the partnership reflects BNY’s strategy to expand its digital asset capabilities while maintaining governance, controls and resiliency. Steve Kurz, Global Co-Head of Digital Assets at Galaxy, framed the move as part of a larger shift toward programmable financial rails. “Galaxy has spent years building the institutional-grade infrastructure to drive that shift, including staking. Our collaboration with BNY brings that work into a framework the world’s largest institutions can trust,” he said. For readers less familiar with staking: it’s the process of locking tokens to help validate transactions and secure a PoS blockchain, earning passive rewards (typically expressed as an annualized percentage yield). By adding staking to its custody stack, BNY Mellon is moving ahead of many traditional banking peers and reinforcing its position as a major institutional player in crypto infrastructure.
BNY Mellon and Galaxy Launch Institutional Crypto Staking on Custody Platform
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Summary
BNY Mellon and Galaxy Digital have launched institutional adoption of crypto staking on BNY’s Digital Asset Custody platform. The service allows eligible clients to stake assets directly through custody, alongside fund accounting and tax reporting. The move brings on-chain news to institutional markets, combining BNY’s infrastructure with Galaxy’s PoS expertise. Clients can now earn yields while maintaining security and governance under BNY’s custody model.
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