US bank BNY Mellon partners with Galaxy Digital to launch institutional cryptocurrency staking
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US banking giant BNY (Bank of New York Mellon) is taking a major step in its crypto offering. In partnership with Galaxy Digital, the oldest US bank is set to offer institutional staking services directly integrated into its digital asset custody platform. This collaboration combines BNY's custody infrastructure and regulatory rigor with Galaxy Digital's technical expertise in Proof-of-Stake (PoS) networks.Under this agreement, Galaxy acts as a design partner to develop and refine BNY's digital banking ecosystem. Thanks to this integration, eligible institutional clients will be able to generate yield on their crypto assets without having to move their tokens out of the bank's secure environment.Until now, funds and institutions often had to juggle different providers to custody their assets on one side and participate in staking on the other. The unified model proposed by BNY and Galaxy brings together all operations within a single workflow: - Secure Asset Custody: Protection of private keys under BNY's rigorous governance model. - Yield Generation (Staking): Participation in PoS networks via Galaxy's validators and technical infrastructure. - Integrated Back-Office Services: Centralized accounting management, tax tracking, payment processing, and client reporting. Carolyn Weinberg, Head of Product and Innovation at BNY Mellon, highlights the evolution of institutional...
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