BNY Mellon partners with Galaxy Digital to launch institutional crypto staking service

BNY Mellon announced a partnership with Galaxy Digital to add crypto staking to its Digital Asset Custody platform for eligible institutional clients. The integrated service will combine custody, staking, fund accounting, tax reporting, payments and client reporting, allowing institutions to earn staking rewards without moving assets out of custody. Galaxy will provide the validator infrastructure and act as a design partner for the platform’s broader digital‑asset infrastructure. The offering, unveiled on August 4 2026, is subject to regulatory approval.

BNY Mellon, which manages over $60 trillion in assets, has been expanding its digital‑asset capabilities, including tokenized fund administration and on‑chain transfer‑agency services. Executives highlighted the strategic shift: Carolyn Weinberg, BNY’s Chief Product and Innovation Officer, said “clients want more than safekeeping alone – they want a broader set of capabilities delivered through an institutional‑grade model.” Galaxy’s Global Co‑Head of Digital Assets, Steve Kurz, added that “the future of financial markets will be built on open, programmable rails, and the institutions that move first will define the era that follows.”