BNY Mellon digital asset expansion

In late July 2026, BNY Mellon launched a blockchain‑based transfer‑agency platform to manage about $8.6 trillion for 7.6 million clients, tokenizing assets and supporting fiat and stable‑coin transactions. Early interest came from firms such as Baillie Gifford, BlackRock and Dreyfus, marking the bank’s first major move to place core record‑keeping on a unified ledger.

On August 4 2026, BNY Mellon announced a partnership with Galaxy Digital to extend its Digital Asset Custody platform with an institutional crypto‑staking service. The offering integrates custody, staking, fund accounting, tax reporting, payments and client reporting, allowing institutions to earn staking rewards without moving assets out of custody. Galaxy will supply the validator infrastructure and act as a design partner for the broader digital‑asset infrastructure. The service is pending regulatory approval. Executives highlighted the shift: BNY’s Chief Product and Innovation Officer Carolyn Weinberg said clients now demand a broader set of capabilities, while Galaxy’s Global Co‑Head of Digital Assets Steve Kurz noted that the future of financial markets will be built on open, programmable rails.