BNY Mellon to Launch Crypto Staking With Galaxy

Financial services company BNY Mellon has partnered with Galaxy Digital to add crypto staking to its Digital Asset Custody platform. According to a press release from Galaxy on Tuesday, Galaxy is serving as a design partner to further BNY Mellon’s digital asset platform infrastructure.

Per the release, Eligible institutional clients can access staking within BNY’s broader servicing model, with integrated capabilities including custody, fund accounting, tax reporting, payments and client reporting, where applicable. This approach is designed to provide institutions with a more efficient way to participate in digital asset markets while maintaining the operational safeguards, oversight and asset protections provided by BNY’s custody model.

Additionally, the two parties will integrate digital asset custody and staking services into a unified institutional-grade offering. By combining BNY’s digital asset custody platform with Galaxy’s expertise in proof-of-stake (PoS) networks, they aim to deliver a seamless, institutional-grade staking experience and help institutional clients participate in staking through secure, streamlined processes. In addition to staking services, Galaxy will also serve as a design partner to further enhance BNY’s digital asset platform infrastructure.

… Continue reading the full article at the original source below.