BNY Mellon to Offer Crypto Staking Services via Galaxy Partnership

BNY Mellon is expanding its digital asset services by partnering with Galaxy to offer cryptocurrency staking to eligible institutional clients. This collaboration integrates staking capabilities directly into BNY Mellon's existing digital asset custody platform, allowing clients to earn staking rewards without moving assets out of custody. Galaxy will provide the necessary staking infrastructure and serve as a design partner for BNY Mellon's broader digital asset initiatives. The move signifies BNY Mellon's continued commitment to building out its blockchain-based financial infrastructure. The bank, which launched crypto custody services in 2022, is also developing a digital transfer agency platform and plans to introduce tokenized U.S. Treasuries by the end of 2026. The integrated custody and staking model aims to streamline institutional participation in proof-of-stake networks while upholding stringent operational controls and asset protections. Steve Kurz of Galaxy highlighted the importance of open, programmable financial markets, stating that their collaboration with BNY Mellon brings these advancements within a framework trusted by large institutions. Carolyn Weinberg of BNY Mellon emphasized client demand for broader capabilities beyond safekeeping, aligning with the bank's strategy to build future financial infrastructure.