BNY and Galaxy Digital are teaming up to strengthen the digital asset infrastructure for institutional investors, according to a Tuesday press release.

Under the collaboration, the companies plan to integrate Galaxy’s staking infrastructure with BNY’s custody services, creating a single servicing model that allows eligible clients to securely custody assets while participating in proof-of-stake networks. The new services are pending regulatory review.

The partnership comes as institutional clients are seeking more than custody as digital assets mature, demanding a wider suite of services delivered through an institutional-grade framework, said Carolyn Weinberg, BNY’s Chief Product and Innovation Officer.

“Our work with Galaxy – an early client of BNY’s Digital Asset Custody platform – reflects our strategy of building the financial infrastructure of the future while continuing to expand our digital asset capabilities. With the addition of staking, we will be providing clients with a more comprehensive digital asset custody offering built on the governance, controls and resiliency they expect from BNY,” Weinberg noted.

In addition to staking, institutional clients will have access to integrated services including custody, fund accounting, tax reporting, payments and client reporting. The firms said the approach targets simplifying institutional access to digital assets while maintaining BNY’s established governance, oversight and operational safeguards.

“The future of financial markets will be built on open, programmable rails, and the institutions that move first will define the era that follows,” Steve Kurz, Global Co-Head of Digital Assets at Galaxy, commented on the move. “Galaxy has spent years building the institutional-grade infrastructure to drive that shift, including staking. Our collaboration with BNY brings that work into a framework the world’s largest institutions can trust.”