BNY Partners With Figment to Offer Crypto Staking to…
By Abdelaziz Fathi
AI summary of the source article
BNY is partnering with blockchain infrastructure provider Figment to offer cryptocurrency staking through its Digital Asset Custody platform. The service will initially support Ethereum, followed by Solana, for institutional clients.
Why it matters
The arrangement gives "eligible institutional clients access to staking rewards without establishing a separate custody relationship with a validator operator" and "could simplify operational workflows."
Key facts
- BNY is integrating Figment's validator infrastructure into its Digital Asset Custody platform to support staking.
- Ethereum will be the first supported staking asset, with Solana expected to follow.
- BNY will manage the custody framework and client services, while Figment provides proof-of-stake validator infrastructure.
Source excerpt · FinanceFeeds
BNY is working with blockchain infrastructure provider Figment to offer cryptocurrency staking through its existing Digital Asset Custody platform, giving eligible institutional clients access to staking rewards without establishing a separate custody relationship with a validator operator.Announced on Thursday, November 12, the arrangement will use Figment's validator infrastructure to support st…