BNY Mellon has partnered with Galaxy Digital to integrate crypto staking services into its Digital Asset Custody platform. According to a press release, Galaxy will serve as a design partner to enhance BNY’s digital asset infrastructure. Eligible institutional clients can now access staking within BNY’s servicing model, which includes custody, fund accounting, tax reporting, payments, and reporting. The collaboration aims to deliver a unified, institutional-grade staking experience by combining BNY’s custody platform with Galaxy’s proof-of-stake expertise. BNY’s Chief Product and Innovation Officer Carolyn Weinberg stated that clients want more than safekeeping alone, and Galaxy’s Steve Kurz noted that the future of financial markets will be built on open, programmable rails.
Financial services company BNY Mellon has partnered with Galaxy Digital to add crypto staking to its Digital Asset Custody platform. According to a press release, Galaxy is serving as a design partner to further BNY’s digital asset platform infrastructure.
Eligible institutional clients can access staking within BNY’s broader servicing model. Integrated capabilities include custody, fund accounting, tax reporting, payments and client reporting, where applicable.
The two parties will integrate digital asset custody and staking services into a unified institutional-grade offering. By combining BNY’s custody platform with Galaxy’s expertise in proof-of-stake (PoS) networks, they aim to deliver a seamless, institutional-grade staking experience.
“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. “Our work with Galaxy – an early client of BNY’s Digital Asset Custody platform – reflects our strategy of building the financial infrastructure of the future while continuing to expand our digital asset capabilities.”
“The future of financial markets will be built on open, programmable rails, and the institutions that move first will define the era that follows,” said Steve Kurz, Global Co-Head of Digital Assets at Galaxy. “Galaxy has spent years building the institutional-grade infrastructure to drive that shift, including staking.”
Crypto staking involves locking digital tokens in a PoS blockchain network to verify transactions and secure the system, earning passive rewards. BNY is jumping ahead of traditional banking firms with this development.
