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BNY has partnered with Galaxy Digital to launch institutional cryptocurrency staking, allowing eligible clients to earn staking rewards without moving assets out of custody.
According to the companies, Galaxy Digital will provide the staking infrastructure and serve as BNY's technology partner in developing its digital asset platform. The firms have not yet disclosed which cryptocurrencies will be supported.
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The new service will enable institutional investors to stake Proof-of-Stake cryptocurrencies while keeping their assets within BNY's custody infrastructure.
In addition to staking, the joint offering will combine digital asset custody, reporting, and tax services into a single platform. The companies said the integrated solution is designed to simplify digital asset management for institutional clients.
The partnership with Galaxy Digital marks another step in BNY's effort to integrate digital assets into traditional financial infrastructure.
The bank was among the first major U.S. financial institutions to launch regulated custody services for Bitcoin and Ethereum. It has also expanded its digital asset business by offering administration services for tokenized funds and bringing transfer agent records onto blockchain infrastructure.
On July 27, 2026, BNY's European subsidiary joined the MiCA register of crypto-asset service providers maintained by the European Securities and Markets Authority (ESMA). Following the latest update, the register includes 309 licensed crypto service providers.
Earlier, BNY expanded its institutional digital asset offering by adding support for Circle's USDC stablecoin. The new service allows clients to custody assets while also issuing and redeeming USDC through the same platform.