Galaxy and BNY Join Forces on Digital Asset Push | LeapRate
Galaxy said Tuesday that it has partnered with BNY (NYSE: BNY) on a new partnership focused on digital assets. The two companies want to make it easier for big institutions to use crypto-related services, starting with staking.
Staking lets people earn rewards just by holding certain digital assets. Under the new deal, this feature will be added to BNY’s Digital Asset Custody platform, so clients can store their assets and earn from them in one place. Galaxy is also helping BNY build out other parts of its digital asset platform, acting as a kind of behind-the-scenes partner. The staking feature still needs to get regulatory approval before it goes live.
Carolyn Weinberg, a product executive at BNY, said clients want more than just a safe place to store their assets as well as more useful features. She pointed out that Galaxy already uses BNY’s custody platform, which made this partnership a natural fit.
Steve Kurz from Galaxy believes the deal is part of a bigger shift happening in finance, where more services move onto digital systems.
He said Galaxy has spent years building the kind of technology needed for staking, and this partnership brings that experience to a name that big institutions already trust.
Once approved, clients will be able to use staking alongside other services BNY already offers, like custody, accounting, tax reporting, and payments. All of it will run through BNY’s usual systems, so clients get new features without giving up the safety and support they already rely on.
