FinanceBNY to Introduce Crypto Staking on Digital Asset Custody Platform

Custody bank partners with Galaxy to enhance services for institutional crypto investors.

By Helene Braun|Edited by Nikhilesh De Aug 4, 2026, 12:30 p.m. 1 min read

  • BNY announced plans to incorporate staking into its digital asset custody services via a collaboration with Galaxy.
  • This initiative will enable institutional clients to earn staking rewards without transferring their assets away from BNY.
  • This development is part of BNY's ongoing expansion into blockchain services for institutional investors.

BNY has engaged the services of Galaxy (GLXY) to integrate staking functionalities into its digital asset custody platform, as revealed in a recent announcement.

The upcoming service will permit institutional clients to stake their digital assets held in custody at BNY's platform, pending necessary regulatory approvals. Galaxy will supply the staking infrastructure and collaborate on the design as BNY broadens its blockchain service offerings.

Staking permits holders of specific cryptocurrencies to support blockchain networks by locking their tokens in exchange for rewards. For large-scale investors, this option allows them to stake through the same platform that securely holds their assets, eliminating the need for transferring tokens to a different provider.

Formerly known as Bank of New York Mellon, BNY has been progressively enhancing its digital asset services since it launched crypto custody in 2022. The bank manages assets totaling tens of trillions of dollars, making its advancements in blockchain infrastructure significant for the financial sector.

Recently, the firm disclosed its strategy to transition its core transfer agency record-keeping onto blockchain technology, aiming to establish a unified on-chain ownership ledger that minimizes dependence on multiple intermediaries. Additionally, it has plans to offer continuous settlement for both traditional and tokenized U.S. Treasuries by 2027, with testing of tokenized Treasuries on a private blockchain expected to commence before the end of this year.