BNY Joins Crypto Staking Fray with Galaxy Partnership
The Wall Street giant BNY is expanding its digital asset custody platform by integrating crypto staking through a new partnership with Galaxy Digital.
BNY, which holds $62.6 trillion in custody assets, will add staking to its platform, allowing eligible institutional clients to earn rewards while keeping their assets under the same custody and reporting systems used for traditional holdings.
The move extends BNY's steady expansion into digital assets, following its recent launches of tokenized deposit services and USDC custody support. Galaxy Digital manages about $3.2 billion in staked assets as of March 31, 2026, and will provide the infrastructure to keep validators online and producing rewards.
The partnership still requires regulatory approval before it becomes available, with risks including validator failures and slashing penalties. Carolyn Weinberg, Chief Product and Innovation Officer at BNY, emphasized the need for a broader set of capabilities delivered through an institutional-grade model.