BNY Selects Figment to Provide Staking Support for Its Custody Platform

TechFlow reported on November 12, citing The Block, that BNY has selected staking infrastructure provider Figment to provide staking support for its digital asset custody platform.

BNY has continued to expand its digital asset 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. Staking on its custody platform had previously been implemented through external infrastructure providers, and the introduction of Figment follows the same approach.

Neither party disclosed the blockchain networks covered by the partnership, the launch timeline, or fees. Staking in institutional custody typically involves validator operations, reward distribution, and the allocation of slashing liability, which is a key focus for U.S. regulators in custody rules.

Source: TechFlow