BNY, the world’s largest custodian bank, is expanding its digital asset business by introducing cryptocurrency staking services for institutional clients through a strategic partnership with Galaxy, marking another milestone in Wall Street’s growing adoption of blockchain infrastructure.
Under the collaboration, eligible institutional clients will be able to stake digital assets directly from BNY’s Digital Asset Custody platform, eliminating the need to transfer assets to an external staking provider. Galaxy will supply the staking infrastructure while also serving as a design partner for the continued development of BNY’s digital asset platform. The service remains subject to applicable regulatory review and approvals. BNY oversees approximately $62.6 trillion in assets under custody and administration as of June 30, 2026, making it the largest custodian bank globally. The addition of staking significantly expands the bank’s digital asset offering, which already includes cryptocurrency custody and blockchain-based servicing for institutional investors.
The partnership reflects growing demand from institutional investors seeking yield-generating opportunities on proof-of-stake blockchains while maintaining the governance, compliance and asset protection standards associated with traditional financial institutions.
Custody and Staking Combined in One Platform
Traditionally, institutional investors wishing to stake cryptocurrencies have often been required to move assets from regulated custodians to specialist staking providers, introducing additional operational complexity and counterparty risk. BNY’s new model is designed to remove that step. By integrating Galaxy’s staking infrastructure directly into its custody platform, the bank intends to allow clients to earn staking rewards without relinquishing institutional custody arrangements. According to the companies, the broader servicing model may also integrate custody, fund accounting, tax reporting, payments and client reporting within a unified workflow.
Galaxy, one of the largest institutional digital asset infrastructure providers, has expanded its staking business in recent years by supporting institutional clients across multiple proof-of-stake blockchain networks. Neither company disclosed which cryptocurrencies will initially be supported, referring instead to “eligible digital assets” pending regulatory review.
Wall Street Deepens Blockchain Adoption
The announcement continues BNY’s multi-year expansion into digital assets. The bank launched its institutional Digital Asset Custody platform in 2022 and has since broadened its blockchain initiatives, including tokenized fund infrastructure and blockchain-based transfer agency services. The latest staking partnership demonstrates that traditional financial institutions are moving beyond simply safeguarding cryptocurrencies toward offering blockchain-native financial services.
The move also aligns with a broader trend across Wall Street, where major financial institutions increasingly view staking as a core institutional service rather than a niche cryptocurrency activity. Staking allows holders of proof-of-stake digital assets to participate in blockchain validation while earning network rewards, making it an increasingly attractive source of yield for long-term institutional investors.
For BNY, adding staking further strengthens its position in the rapidly expanding institutional digital asset market. As regulatory clarity improves and demand for blockchain-based financial services grows, custody providers are increasingly seeking to offer a complete suite of digital asset capabilities instead of limiting themselves to secure storage.
With more than $62 trillion in assets under custody and administration, BNY’s decision to integrate staking represents another significant step in the convergence of traditional finance and blockchain infrastructure. The partnership with Galaxy signals that some of Wall Street’s largest institutions now view digital asset staking as a mainstream institutional service rather than an experimental feature of the cryptocurrency ecosystem.