BNY Mellon Teams with Galaxy Digital on Institutional Crypto Staking

BNY Mellon and Galaxy Digital have partnered to launch institutional crypto staking within BNY's existing Digital Asset Custody platform. The service, pending regulatory approval, will allow eligible clients to earn staking rewards while keeping their assets within BNY's custody framework.

The partnership aims to simplify the process for institutions, such as pension funds and asset managers, which often face compliance issues when transferring assets between separate custody and staking providers.

Galaxy Digital will provide the validator infrastructure for the service, supporting proof-of-stake networks like Ethereum and Solana. BNY's platform already supports bitcoin and ether custody, as well as services for US spot crypto ETFs.