Digital asset firm Galaxy Digital and BNY are exploring a partnership to introduce staking capabilities within BNY’s Digital Asset Custody platform, marking another step by traditional financial institutions toward expanding crypto-related services.
According to an official announcement published on Tuesday, Galaxy will support staking infrastructure for BNY while also serving as a design partner for the bank’s broader digital asset platform.
The staking offering is not yet available to clients. The companies said it remains subject to regulatory review, and no launch timeline has been announced.
Galaxy’s institutional crypto expansion continues
The partnership builds on Galaxy’s broader push into institutional digital asset services.
In May 2026, Galaxy received approval from the New York State Department of Financial Services to expand its digital asset offerings in New York. The approval allows the company to provide crypto-related solutions to institutional clients, including hedge funds, registered investment advisers, and family offices.
The move marked another step in Galaxy’s efforts to operate within regulated financial markets as institutional demand for crypto services grows.
How BNY explores staking beyond traditional custody
For BNY, the collaboration reflects a shift among traditional financial institutions toward offering services beyond digital asset custody.
BNY’s Digital Asset Custody platform already provides institutional services including asset safekeeping, fund accounting, tax reporting, payments, and client reporting. By exploring staking integration, the bank is looking into additional blockchain-based services that could support institutional investors seeking exposure to proof-of-stake networks.
Carolyn Weinberg, BNY’s Chief Product and Innovation Officer, said institutional clients are increasingly looking for digital asset services beyond custody.
Galaxy’s Steve Kurz, Global Co-Head of Digital Assets, said the partnership reflects growing interest in programmable financial infrastructure for institutional markets.
Institutional crypto infrastructure race intensifies
The Galaxy-BNY collaboration comes as banks and financial institutions continue investing in digital asset infrastructure. In May 2026, Standard Chartered confirmed the acquisition of Zodia Custody’s crypto unit, following years of investment in digital asset services including custody, spot trading, prime brokerage, and stablecoin initiatives.
The developments highlight a broader trend among financial institutions seeking to build regulated infrastructure for digital assets rather than relying solely on third-party crypto platforms.
As of June 30, 2026, BNY reported $62.6 trillion in assets under custody or administration, while Galaxy continues expanding its institutional crypto offerings across custody, trading, and blockchain infrastructure.
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