Wall Street Giant BNY Actively Expands into Crypto Staking Market via Galaxy
Wall Street giant BNY is actively entering the crypto staking market through a partnership with Galaxy Digital. Announced in August 2026, the collaboration will integrate staking services directly into BNY's institutional-grade digital asset custody platform. This allows eligible institutional clients to earn staking rewards while keeping assets within the same custody, fund accounting, tax, and client reporting systems used for traditional assets.
Galaxy Digital will provide the underlying staking infrastructure, operating validators on networks like Ethereum and Solana. This move aims to eliminate a major operational hurdle for institutions like pension funds and asset managers, who were previously forced to move assets to separate providers to stake, complicating operations and compliance.
BNY, which already custodies Bitcoin, Ether, and supports major ETFs, sees this as expanding its digital asset capabilities for clients. Galaxy framed the deal as part of a shift toward open, programmable financial markets. A key next step is regulatory approval. The service will also need to address inherent risks like validator penalties and the evolving tax treatment of staking rewards.
cryptonews.ruYesterday 08:57
