BNY Taps Galaxy Digital to Add Staking to Crypto Custody Platform

What happened

BNY Mellon announced a partnership with Galaxy Digital to add staking services to its crypto custody platform, enabling clients to earn rewards on supported digital assets held in custody.

Confirmed

Global impact / market context

Staking lets investors earn passive income on crypto holdings, making BNY’s custody offering more attractive to institutions seeking yield. It also shows a major traditional custodian moving deeper into crypto services.

Analyst inference

The crypto industry is seeing rapid growth in staking as a low‑cost way to generate returns, and other custodians are launching similar features. Regulators are still clarifying rules around staking for institutional clients.

Analyst inference

What to watch

1. How quickly BNY’s institutional clients adopt the new staking option, which will indicate demand for yield‑focused crypto services. Analyst inference
2. Any regulatory guidance or enforcement actions related to staking, which could affect how BNY and Galaxy structure the service. Analyst inference
3. Revenue trends for Galaxy Digital from the staking partnership, showing whether the service adds a meaningful income stream. Analyst inference

Affected assets

• USDC — USD Coin

Evidence

• cryptoprowl.com