BNY Mellon selects Figment to provide staking support for its custody platform

BNY has selected staking infrastructure provider Figment to power staking support on its digital asset custody platform, extending a digital-asset push that includes being named custodian for Ripple's RLUSD reserves in 2025 and launching tokenized deposits for institutions in January 2026. The bank had previously delivered staking through external infrastructure providers, so the Figment arrangement follows the same model. Neither party disclosed which blockchain networks the deal covers, the launch timetable, or fee terms. The tie-up matters because staking inside institutional custody raises questions about validator operations, reward distribution, and liability for slashing, areas U.S. regulators are focused on in custody rules. What to watch next: disclosure of supported networks and go-live dates, and how slashing responsibility is allocated between BNY and Figment.