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BNY explores adding crypto staking to custody platform through Galaxy partnership

BNY explores adding crypto staking to custody platform through Galaxy partnership

Galaxy will provide staking infrastructure and help design BNY’s digital asset platform, while eligible clients would access custody and staking through a single institutional servicing model.

Fact Check
The core claim is directly supported by CoinDesk, which reports BNY adding crypto staking to its digital asset custody platform and selecting Galaxy for staking infrastructure. Cryptobriefing independently confirms BNY letting institutional clients earn staking rewards on held assets, and PANews (citing CoinDesk) confirms the Galaxy Digital partnership and Galaxy's infrastructure/design-partner role, noting it is pending regulatory approval. The BNY official newsroom page corroborates an existing BNY–Galaxy digital asset relationship, making the partnership plausible. Multiple same-day, consistent reports and no conflicting evidence support a high-confidence likely_true assessment; the only minor caveat is that regulatory approval is still pending.
Summary

BNY and Galaxy said they are partnering to add institutional crypto staking to BNY’s digital asset custody platform, allowing eligible clients to access custody and staking through a single servicing model while keeping assets within BNY’s custody framework. Galaxy will provide the staking infrastructure and act as a design partner, and the companies said the setup is intended to combine staking with services such as fund accounting, tax reporting, payments and client reporting where applicable. They did not disclose which proof-of-stake assets will be supported or when the service will launch, and the rollout remains subject to regulatory review. The move adds to BNY’s broader digital asset buildout across custody, fund infrastructure and tokenization. BNY reported $62.6 trillion in assets under custody or administration as of June 30. The bank has also been developing a blockchain-enabled transfer agency platform to keep fund transactions and shareholder records onchain, and it reportedly plans to introduce tokenized U.S. Treasuries before the end of 2026 after pilot transactions on a private blockchain. In Europe, BNY SA/NV, the bank’s Belgian subsidiary, was added by ESMA to its interim Markets in Crypto-Assets register in July after authorization from the National Bank of Belgium to provide crypto-asset custody and transfer services.

Terms & Concepts
  • staking: Using eligible crypto assets to help support a blockchain network and earn protocol rewards.
  • proof-of-stake: A blockchain validation system that relies on staked tokens rather than mining.
  • tokenized U.S. Treasuries: Treasury-linked instruments represented digitally on blockchain-based infrastructure.