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BNY to add institutional crypto staking via Galaxy partnership

The partnership will integrate staking, custody, reporting and tax services into BNY’s digital asset custody platform, using Galaxy’s staking infrastructure.

Reported · Written up by our desk · Market Structure

BNY is set to expand its cryptocurrency offerings by integrating institutional crypto staking into its digital asset custody platform through a partnership with Galaxy, Cointelegraph reports.

Under the arrangement unveiled Tuesday, eligible institutional clients will be able to stake supported proof-of-stake assets without moving them out of BNY’s custody, while Galaxy will provide the staking infrastructure and act as a design partner for BNY’s broader platform.

The companies said the offering is intended to combine custody, staking, reporting and tax services into a single package to simplify digital asset operations, though they did not specify which assets will be supported.

Cointelegraph notes that BNY was among the first major financial institutions to provide regulated crypto custody for assets including Bitcoin and Ether, and that it has since broadened its digital asset strategy with initiatives such as tokenized fund administration and onchain efforts for transfer agency records.

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