BNY has partnered with Galaxy Digital to integrate staking infrastructure into its Digital Asset Custody platform, providing eligible institutional clients with access to custody and staking through one servicing model. According to BNY Chief Product and Innovation Officer Carolyn Weinberg, the collaboration will deliver a broader set of capabilities to clients through an institutional-grade model.
Institutional Staking
The partnership aims to simplify institutional participation in proof-of-stake networks by reducing the need to coordinate between separate custody and staking providers. Client assets will remain within BNY's institutional custody framework while accessing Galaxy's staking capabilities.
Regulatory Review
The launch of the service remains subject to regulatory review, with the companies not disclosing which proof-of-stake assets the platform will support or when the service will become available.
Expansion of Services
The collaboration expands the services available through a major U.S. custodian as banks compete to support institutional demand for digital assets. BNY reported $62.6 trillion in assets under custody or administration as of June 30.