BNY to Integrate Crypto Staking into Digital Asset Custody Platform

BNY Mellon has partnered with crypto financial services firm Galaxy (GLXY) to add staking capabilities to its digital asset custody platform. The new service will enable institutional clients to stake digital assets held in custody through BNY's platform, subject to regulatory approval. Galaxy will provide the staking infrastructure and serve as a design partner as BNY expands its blockchain-based services. Staking allows holders of certain crypto assets to secure blockchain networks by locking up their tokens in exchange for rewards. For large investors, offering staking through the same platform that holds their assets eliminates the need to transfer tokens to a separate provider. BNY, which oversees trillions of dollars in assets under custody, has been steadily expanding its digital asset business since launching crypto custody services in 2022. Recently, BNY announced shifting its core transfer agency record-keeping onto blockchain technology, creating a single on-chain ownership ledger aimed at reducing reliance on multiple intermediaries. It also plans to introduce around-the-clock settlement for traditional and tokenized U.S. Treasuries in 2027 and begin testing tokenized Treasuries on a private blockchain before the end of this year. Binance remains crypto's leading exchange, expanding from spot and derivatives into Real World Assets (RWAs), payments, savings, yield, and broader financial services.

BNY's move signals a growing role for institutional players in the crypto ecosystem, while also serving as a bridge between traditional finance and blockchain technology. This integration could reshape how large investors manage their digital assets.