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

On November 12, according to The Block, Bank of New York Mellon (BNY) has selected staking infrastructure provider Figment to provide staking support for its digital asset custody platform.

BNY has continuously expanded its digital assets business over the past two years: it was selected by Ripple in 2025 as the custodian for RLUSD reserves, and in January 2026, it launched tokenized deposit services for institutional clients. Its custody platform's staking operations were previously powered by external infrastructure providers, so introducing Figment this time follows the same approach.

Neither party has disclosed the blockchain networks covered by the partnership, the launch timeline, or the fee structure. Staking within institutional custody typically involves validator operation, reward distribution, and the division of slashing responsibilities, which is also a key focus for U.S. regulators in custody regulations.