New York Mellon Bank Partners with Galaxy to Launch Cryptocurrency Custody Service

BlockBeats News, August 4th, Galaxy Digital announced today a strategic partnership with the Bank of New York Mellon (BNY) to further advance the development of digital asset infrastructure for the institutional market. This partnership will support digital asset services including staking—staking is a mechanism that allows eligible digital assets to earn staking rewards. The two parties will integrate digital asset custody with staking services into a single institutional-grade service model.

By combining BNY's digital asset custody platform with Galaxy's expertise in the Proof of Stake (PoS) network field, the two parties aim to provide customers with an integrated, institutional-grade staking experience and help institutional clients participate in staking activities through a secure and streamlined process.

In addition to staking services, Galaxy will also serve as a design partner to further assist in enhancing BNY's digital asset platform infrastructure. The staking service and related infrastructure upgrade program launched by BNY are still subject to regulatory review.