BNY Mellon has announced plans to integrate crypto staking into its digital asset custody platform through a collaboration with Galaxy, the bank confirmed on August 4, 2026. The proposed service would allow eligible institutional clients to earn staking rewards while keeping their assets within BNY’s custody system, pending regulatory approval.
Under the arrangement, Galaxy will provide the staking infrastructure and technical support, enabling clients to participate in proof-of-stake blockchain networks without transferring their tokens to a third party. BNY said the service would maintain the same controls, governance standards, and asset protections expected by institutional investors.
“As digital assets continue to evolve, clients want more than safekeeping alone — they want a broader set of capabilities delivered through an institutional-grade model,” said Carolyn Weinberg, BNY’s chief product and innovation officer.
Galaxy will also serve as a design partner for BNY’s broader digital asset platform, contributing to infrastructure development beyond staking. The Nasdaq-listed firm, which already uses BNY’s custody platform as an early client, brings expertise in proof-of-stake networks and digital asset operations.
Steve Kurz, Galaxy’s global co-head of digital assets, said: “The future of financial markets will be built on open, programmable rails, and the institutions that move first will define the era that follows.”
BNY launched its digital asset custody service in 2022 and continues to expand blockchain-related services. The bank manages tens of trillions of dollars in assets under custody and administration. It also plans to move core transfer agency record-keeping onto blockchain, enable around-the-clock settlement for U.S. Treasuries by 2027, and test tokenized Treasuries on a private blockchain before the end of 2026.
Ethereum, the largest proof-of-stake network by market value, remains a key reference point for staking services. At press time, Ethereum traded near $1,868, with a market value of about $225 billion. However, BNY did not specify which networks or tokens the staking service would support, nor did it provide a launch date, fee structure, or client eligibility details.
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