- BNY Mellon partners with Galaxy Digital to add crypto staking to its Digital Asset Custody platform.
- Eligible institutional clients gain integrated staking alongside custody, fund accounting, tax reporting, and payments.
- Galaxy serves as a design partner to enhance BNY’s digital asset platform infrastructure.
- Executives from both firms emphasize the move toward institutional-grade staking and future financial infrastructure.
On Tuesday, financial services giant BNY Mellon announced a partnership with Galaxy Digital to integrate crypto staking into its Digital Asset Custody platform, according to a press release. Eligible institutional clients can now access staking within BNY’s broader servicing model, which includes custody, fund accounting, tax reporting, payments, and client reporting.
Consequently, the two parties aim to deliver a unified institutional-grade offering by combining BNY’s custody platform with Galaxy’s expertise in proof-of-stake networks. This approach provides institutions with a more efficient way to participate in digital asset markets while maintaining the operational safeguards and asset protections of BNY’s custody model.
Meanwhile, Galaxy will also serve as a design partner to further enhance BNY’s digital asset platform infrastructure. “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.
“The future of financial markets will be built on open, programmable rails, and the institutions that move first will define the era that follows,” added Steve Kurz, Global Co-Head of Digital Assets at Galaxy. Crypto staking involves locking tokens in a proof-of-stake blockchain to verify transactions and earn passive rewards, and BNY’s move positions it ahead of traditional banking peers in the digital asset space.
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