BNY Brings Crypto Staking to Institutional Clients

BNY is moving past basic custody services. The financial institution is launching a new program that lets institutional clients stake their proof of stake digital assets to earn additional yield.

To make this happen, BNY is partnering with Galaxy Digital. By using their infrastructure, the bank aims to provide a reliable way for large investors to participate in network security while growing their holdings.

This move signals that major players are getting more comfortable with earning returns on crypto assets. As institutional adoption grows, expect more traditional banks to look for ways to offer similar yield generating tools to their clients.