BNY and Galaxy Partner for Institutional Crypto Staking within Custody

BNY Mellon and Galaxy have announced a partnership to integrate institutional crypto staking into BNY’s digital asset custody platform. This arrangement allows eligible clients to earn staking rewards on supported proof-of-stake assets without needing to move their assets out of custody. Galaxy will provide the staking infrastructure and act as a design partner for BNY’s broader digital asset platform. While the specific supported digital assets were not disclosed, the partnership aims to combine custody, staking, reporting, and tax services into a single offering for institutional clients, simplifying their digital asset operations. This move expands BNY Mellon’s efforts to integrate digital assets into traditional financial infrastructure, building on its early adoption of regulated cryptocurrency custody for assets like Bitcoin (BTC) and Ether (ETH), and subsequent initiatives in tokenized fund administration and on-chain transfer agency records.