According to CoinMeta, New York Mellon Bank ( BNY ), a US custodian bank, will collaborate with the crypto financial services company Galaxy to add a staking feature to its digital asset custody platform. Once regulatory approval is obtained, institutional clients will be able to directly stake digital assets held by BNY. There will be no need to transfer tokens to other service providers. Galaxy will provide the staking infrastructure and participate in the design of related services. BNY launched crypto asset custody services in 2022 and recently also plans to migrate core transfer agency records to the blockchain, as well as to tokenize traditional and tokenized US Treasury bonds by 2027.