Overview
- The partnership between BNY Mellon and Galaxy was announced Tuesday, August 4, 2026, with Galaxy providing validator infrastructure and acting as a design partner for a planned staking service.
- The planned offering would let eligible institutional clients earn proof‑of‑stake rewards while keeping assets inside BNY’s custody platform rather than moving tokens to a separate staking provider.
- BNY and Galaxy have not disclosed which cryptocurrencies will qualify, what fees clients will pay, how withdrawals or unstaking will work, or a launch timetable, and the product remains subject to regulatory review.
- Institutions using the service would still face protocol risks such as validator downtime, slashing penalties and lock‑up or exit delays, and the companies have not yet clarified who would bear financial liability for those outcomes.
- The move broadens traditional custody into yield services at a moment when banks and asset managers are offering multiple routes into staking, and it could speed institutional participation if regulators sign off and practical terms are published.