BNY taps Figment to bring staking into its digital asset custody service
Not investment advice. Muhabbit scores how much a story may matter, not which way to trade.
BNY has enlisted staking infrastructure provider Figment to add staking to its digital asset custody service, letting institutional clients stake held tokens without moving them out of custody. The move extends BNY’s custody offering beyond safekeeping into yield generation, a significant step for banks seeking to deepen crypto services within existing risk and compliance frameworks. Figment will supply the staking infrastructure and validator operations behind the service. The integration matters because custody-linked staking could draw more conservative institutions into proof-of-stake assets, where concerns about slashing risk and operational control have been barriers. Next, watch which assets and networks BNY supports at launch, the fee structure, and whether rival custodians follow with similar arrangements.
Muhabbit's AI wrote this summary in its own words from Crypto Briefing's report. It can get details wrong, so check the source.
Named in this story
BNY, Figment