BNY Mellon Teams Up with Galaxy Digital on Institutional Crypto Staking
Crypto staking is becoming more accessible to institutional investors thanks to a new partnership between BNY Mellon and Galaxy Digital. The collaboration will integrate crypto staking services into BNY's Digital Asset Custody solution, allowing qualified institutions to custody and stake digital assets on the same platform.
The partnership leverages BNY's custody infrastructure and Galaxy Digital's experience with proof-of-stake blockchain networks. By integrating custody and staking capabilities, the partners aim to make managing digital assets easier for investors while providing a risk-free avenue for earning staking rewards within the BNY custodial system.
Under this new structure, eligible institutional customers will have access to crypto staking services alongside other BNY Mellon services such as crypto custody, fund accounting, tax, payments, and client reporting. The companies stated that this process is adopted to keep things simple but secure and governed.