BNY Taps Galaxy to Add Staking Support to Its Digital Asset Custody Platform
TL;DR
- BNY announced it will integrate staking into its digital asset custody platform through a partnership with Galaxy.
- The new service will allow institutional clients to stake their assets without needing to transfer them to an external provider.
- The bank also plans to offer 24/7 settlement for tokenized Treasuries in 2027 and testing on a private blockchain before year-end.
BNY and Galaxy partnered to offer institutional staking on the bank’s digital asset custody platform, according to what both companies announced. The service will be subject to regulatory approval and will position Galaxy as an infrastructure provider and design partner in the expansion process.
The agreement allows BNY’s institutional clients to stake their assets without moving them to a separate custodian, simplifying an operation that historically required transferring tokens outside the custody system. Staking consists of locking certain cryptocurrencies to participate in the validation of blockchain networks in exchange for rewards, a practice increasingly in demand among large investors seeking returns on their holdings.
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