The collaboration allows BNY to offer staking alongside its existing suite of institutional services, including fund accounting, tax reporting, and payment processing. While Galaxy provides the technical framework for the staking operations, client assets remain within BNY’s established custody environment. This integrated model is intended to simplify participation in blockchain networks for asset managers, though the specific crypto assets supported and the official launch date remain undisclosed.
In section Cryptocurrency
BNY Integrates Galaxy Infrastructure for Institutional Crypto Staking
BNY is integrating Galaxy’s staking infrastructure into its digital asset custody platform, a move designed to streamline how institutional clients manage proof-of-stake assets. By merging safekeeping with staking workflows, the bank aims to reduce the operational friction typically associated with maintaining separate service providers for digital portfolios.
Regulatory scrutiny remains a critical hurdle for the initiative. The service is currently subject to ongoing regulatory review, and the companies have not specified which agencies must grant approval or how access will be restricted by jurisdiction. This development follows BNY’s recent expansion into onchain transfer agency services and its receipt of MiCA authorization for crypto custody through its Belgian subsidiary, BNY SA/NV. With $62.6 trillion in assets under custody as of June 30, BNY is positioning itself to capture institutional demand by building a unified infrastructure that bridges traditional finance with programmable digital assets.
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