CoinDesk reported that BNY (formerly BNY Mellon Bank), the world's largest custodian bank, is partnering with Galaxy Digital to add staking functionality to its cryptocurrency custody platform. Upon regulatory approval, institutional clients will be able to receive staking rewards without moving the cryptocurrencies held at BNY to external providers. Galaxy will provide the staking infrastructure and support the expansion of BNY's blockchain-based services. BNY has been offering cryptocurrency custody services since 2022 and plans to introduce US Treasury tokens and conduct pilot transactions on its own private blockchain by the end of this year.
