BNY Mellon Enters Crypto Staking Through Galaxy Digital Partnership
The world's largest custody bank expands its digital asset services.
1BNY Mellon and Galaxy Digital Strategic Partnership
BNY Mellon, with $62.6 trillion in custody assets, is the world's largest custody bank. Galaxy Digital manages approximately $3.2 billion in staked assets as of March 31, 2026. The two companies have joined forces to offer institutional clients a one-stop staking service. This move is part of BNY's expansion strategy in the digital asset space.
2The Institutional Benefits of Staking
Staking allows holders of certain cryptocurrencies to earn rewards by locking their coins to validate and secure blockchain networks. Until now, institutions had to split assets across multiple providers to access both custody and staking income. This new partnership will eliminate operational and compliance challenges.
3Integrated Solution on a Single Platform
BNY will integrate staking directly into its Digital Asset Custody platform. Eligible institutional clients can thus earn staking rewards while keeping assets under the same custody, fund accounting, and tax reporting systems used for traditional holdings. Regulatory approval is pending before the service can launch.
4Galaxy Digital's Infrastructure Role
Galaxy Digital provides the infrastructure that keeps validators operational and generating rewards. The company operates proof-of-stake (PoS) validators across networks including Ethereum and Solana. Galaxy also serves as a design partner for BNY's digital asset platform, taking on a role beyond just being a staking provider.
5Shifting Institutional Demands
Carolyn Weinberg, Chief Product and Innovation Officer at BNY, stated that clients now demand more than just custody services—they want broader capabilities delivered through an institutional-grade model. BNY's strategy focuses on building the financial infrastructure of the future while expanding digital asset capabilities.
6The Future of Financial Markets
Steve Kurz, Global Co-Head of Digital Assets at Galaxy, characterized the deal as part of financial markets' evolution toward more open and programmable infrastructure. He emphasized that Galaxy has been building institutional-grade infrastructure for years to drive this shift.
7BNY's Digital Asset Expansion
BNY has been steadily expanding its presence in digital assets. As of June 30, 2026, the bank held $62.6 trillion in custody assets. It offers Bitcoin and Ethereum custody services, supports most U.S. spot bitcoin and ether ETFs, and added tokenized deposit services and USDC custody support in 2026.
8Removing Barriers to Institutional Participation
For pension funds, asset managers, and insurers, the appeal of staking lies in practical benefits rather than speculation. Institutions don't object to staking itself, but moving assets outside established custody frameworks has been a major hurdle. Offering custody, reporting, and staking under one roof removes this obstacle.
Original article: Bitcoin News — BNY Mellon, Galaxy Digital ile Kripto Staking'e Giriyor