BNY Mellon and Galaxy unveiled a partnership Tuesday integrating institutional crypto staking into BNY’s digital asset custody platform. The service allows eligible clients to earn staking rewards on proof-of-stake assets without moving them out of custody.
The collaboration combines custody, staking, reporting, and tax services into a single offering for institutional clients. Galaxy serves as the staking infrastructure provider and design partner. BNY Mellon operates the custody platform where assets remain secured throughout the staking process.
BNY Mellon has positioned itself as a custody leader for digital assets, counting Bitcoin and Ether among the cryptocurrencies it holds for institutional clients. The bank has expanded its digital asset strategy beyond safekeeping in recent years, adding tokenized fund administration and moving transfer agency records onchain.
The staking integration represents another step in that expansion. By embedding staking directly into its custody infrastructure, BNY Mellon removes friction for institutions seeking yield on proof-of-stake holdings. Clients no longer need to transfer assets to separate staking platforms, reducing operational complexity and counterparty risk.
The partnership does not specify which digital assets will qualify for staking rewards or provide details on reward rates, minimum stake amounts, or eligibility criteria for clients. BNY Mellon did not name individuals involved in the partnership announcement.
