Key Takeaways
BNY announced August 4 that it will add staking to its digital asset custody platform through a partnership with Galaxy, pending regulatory approval.
Institutional clients will be able to earn staking rewards on assets held at BNY without transferring them to an outside venue, with Galaxy providing the infrastructure and serving as a design partner.
It is BNY's third major blockchain move in a week, after putting its $8.6 trillion transfer agency business onchain and planning 24/7 Treasury settlement for 2027.
BNY keeps adding floors to the building. The custody bank announced Tuesday that it has tapped crypto financial services firm Galaxy to bring staking to its digital asset custody platform, letting institutional clients earn rewards on crypto they hold at the bank without the assets ever leaving custody.
Staking locks up tokens to help secure a blockchain network in exchange for rewards, and for a pension fund or insurer the catch has always been custody. Accessing staking usually means transferring assets to a separate provider, which triggers exactly the compliance and control problems institutions hire a custodian to avoid. BNY's version keeps custody, staking, tax reporting, fund accounting, and client reporting inside one system. Galaxy provides the staking infrastructure and serves as a design partner as the bank expands its blockchain services. The offering is subject to regulatory approval and no launch date has been announced.
The context is what makes this notable. BNY, which launched crypto custody in 2022 and oversees tens of trillions of dollars in assets under custody and administration, announced last week that it is moving its $8.6 trillion transfer agency business onto blockchain rails, and it plans around-the-clock settlement for US Treasuries in 2027. Staking is the third floor in seven days.
The pattern matches the regulated build-out WYDE has tracked since Circle took its New York trust charter. The biggest banks are not dabbling anymore, they are wiring crypto into the same systems that run everything else.
People Also Ask
What did BNY announce with Galaxy?
BNY said on August 4, 2026 that it will add staking to its digital asset custody platform, with Galaxy providing the staking infrastructure and serving as a design partner, pending regulatory approval.
What is crypto staking?
Staking means locking up certain crypto assets to help secure a blockchain network in exchange for rewards, similar in spirit to earning interest for supporting the system.
Why does in-custody staking matter to institutions?
Pension funds, insurers, and asset managers face strict controls on moving assets. Staking directly from custody removes the need to transfer tokens to an outside provider, which cuts compliance risk.
When will BNY's staking service launch?
No launch date has been announced. The service is subject to regulatory approval, and BNY has not said which assets it will support first.