BK · News · 20260804N

Digital Asset Custody Expansion

BK · 2026-08-04 · Importance 34 · Surprise 42 · In source text

BNY Mellon is partnering with Galaxy Digital to add institutional crypto staking to its Digital Asset Custody platform. Eligible clients will be able to earn rewards from proof-of-stake networks without transferring assets off BNY’s platform, with custody, staking, fund accounting, and tax reporting integrated into one framework. Galaxy will act as a design partner for BNY’s broader digital-asset infrastructure, building on support for Circle’s USDC and blockchain-based transfer-agency record-keeping. The service remains subject to regulatory approval, and eligible cryptocurrencies and fee structures have not yet been disclosed.

Key facts

• This new service is integrated directly into BNY's Digital Asset Custody platform and will enable clients to participate in proof-of-stake networks without moving their assets off-platform. source
• The offering to integrate staking into BNY Mellon's custody platform is subject to regulatory approval. source
• The staking service aims to provide institutions with direct access to staking without needing external providers, subject to regulatory review. source
• BNY Mellon, described as the world's largest custodian with $62.6 trillion in assets, will allow eligible clients to earn staking rewards without moving assets off BNY's platform. source
• The collaboration will combine custody, staking, fund accounting, and tax reporting into a single framework. source
• BNY Mellon has recently moved transfer agency record-keeping onto blockchain and supports Circle's USDC stablecoin for custody services. source

Impact estimates