BNY is adding crypto staking to its digital asset custody platform, according to reporting from CoinDesk. The custody bank has selected Galaxy to provide the necessary staking infrastructure for this expansion.
This move is part of BNY's efforts to broaden its services for institutional crypto investors. By incorporating staking into its platform, BNY aims to provide a more comprehensive suite of services for these clients.
The partnership with Galaxy will enable BNY to offer staking capabilities, allowing institutional investors to earn rewards on their crypto holdings.