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BNY Teams Up with Galaxy to Offer Institutional Crypto Staking Services

August 4, 202602:10 PM
BNY Teams Up with Galaxy to Offer Institutional Crypto Staking Services

The custody giant BNY Mellon is expanding beyond safekeeping by announcing a strategic partnership with Galaxy Digital to offer institutional crypto staking services. This initiative allows eligible institutional clients to earn yield on proof-of-stake assets while keeping them securely within BNY's custody framework, eliminating the need to move assets to external staking platforms.

The collaboration marks a significant milestone in institutional crypto adoption, combining custody, staking, reporting, and tax services into a single integrated offering. This streamlined approach could significantly simplify digital asset operations for large investors, potentially accelerating institutional capital inflows into the cryptocurrency market. While specific supported assets haven't been disclosed, BNY's move signals growing maturity and legitimacy for the crypto sector within traditional finance.

This is a summarized and adapted version by Artificial Intelligence. To read the complete original story, visit the official source.

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