NEW YORK, November 12, 2026 — BNY Mellon is integrating validator infrastructure directly into its custody platform through a partnership with Figment, enabling institutional clients to stake assets without moving them to a separate platform.
The Evolution of BNY’s Digital Asset Custody Service
BNY Mellon, the world’s largest custodian bank with $63.4 trillion in assets under custody and/or administration as of September 30, 2026, began offering cryptocurrency custody services in October 2022, initially supporting Bitcoin and Ether for select clients. The bank has since expanded its crypto-related services, including a broadened custody agreement with Ripple in October 2026 to include XRP and Ripple USD.
Technical Integration: How Figment’s Validator Infrastructure Works with BNY’s Custody
Figment, a blockchain infrastructure provider serving over 1,500 institutions, will supply the validator infrastructure for the staking service. BNY Mellon will handle custody and institutional servicing, integrating staking into the existing framework clients use to manage digital assets. This arrangement allows clients to stake supported assets like Ether and, eventually, Solana without transferring them to another platform.
Maintaining Asset Security: Avoiding Commingling in a Native Staking Environment
The collaboration ensures that staked assets remain within BNY’s custody framework, avoiding the risks associated with commingling assets on external platforms. This approach aligns with the growing institutional focus on how staking is delivered, not just accessed, according to Ralf Roth, head of Digital Asset Custody at BNY.
Strategic Rollout: Starting with Ether and Expanding to Solana
Ether will be the first supported asset, with Solana expected to follow. While no launch date has been disclosed, the integration marks a significant step in BNY’s digital asset strategy, building on its existing custody and securities services expertise.
Market Context: Meeting Institutional Demand for Yield-Bearing Digital Assets
The move comes as institutional demand for yield-bearing digital assets grows. Figment’s existing partnership with Coinbase Prime has facilitated over $2 billion in staked assets by October 2025, demonstrating the scale of institutional interest in staking. BNY’s integration with Figment positions it to capture this demand while maintaining its role as a systemically important financial institution.
The figure that matters: $63.4 trillion in assets under custody and/or administration as of September 30, 2026, underscores BNY’s scale and the potential impact of its staking service on the institutional crypto market.
Sources
- BNY Taps Figment to Bring Staking to Institutional Custody Clients
- BNY
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Photo: Cbaile19 (CC BY-SA 4.0)
