Eligible institutional clients will be able to stake through BNY’s existing Digital Asset Custody service, utilizing Figment validator infrastructure
NEW YORK--(BUSINESS WIRE)--Figment, the leading provider of blockchain infrastructure and validator operations for institutions, today announced a collaboration with BNY (NYSE: BNY), a global financial services company, to support BNY’s staking offering through Figment’s validator infrastructure, providing eligible clients with secure, integrated access to staking via BNY Digital Asset Custody.
The collaboration combines BNY’s custody and servicing model with Figment’s validator infrastructure, providing eligible institutions with a secure, integrated way to participate in staking, the process that allows eligible digital assets to earn rewards. By working with Figment, the largest non-custodial staking provider across both Ethereum and Solana, BNY is adding validator infrastructure to support its staking offering.
BNY’s offering will bring Digital Asset Custody and staking together within a single institutional servicing model. With Figment’s validator infrastructure, asset managers, ETF issuers, corporates, wealth management firms and other eligible institutional clients will be able to access staking for supported digital assets held on BNY’s Digital Asset Custody platform.
“As institutional participation in staking grows, the focus is shifting from simply accessing staking to how it is delivered. Offering staking with Figment in a trusted custody framework can give institutions greater confidence in how they participate, while supporting the standards of security, oversight and accountability they expect from a global custodian,” said Ralf Roth, Head of Digital Asset Custody, BNY.
“BNY’s continued expansion of its staking offering represents an important step in diversifying institutional participation in staking. By working with BNY, Figment is bringing its validator infrastructure and staking expertise to BNY’s Digital Asset Custody platform, giving institutional clients another way to participate in staking using their existing platform and servicing workflows. BNY continues to lead as a true pioneer, and Figment is honored to help support their vision,” said Josh Deems, Head of Revenue, Figment.
About Figment
Figment is the largest non-custodial staking provider globally for existing blockchains like Ethereum and Solana, and an early validator for chains powering stablecoins and tokenization. Figment provides the complete staking solution for over 1,500 institutions to earn and offer rewards on digital assets. Clients span asset managers, custodians, exchanges and wallets. Staking services include seamless, point-and-click staking, portfolio reward tracking, API integrations, audited infrastructure and slashing protection. Figment also provides technology infrastructure advisory services. To learn more about Figment, visit figment.io.
The information herein is being provided for general informational purposes only. It is not intended to be, nor should it be relied upon as, legal, business, tax, or investment advice. Figment is a technical infrastructure provider; Figment does not provide legal, regulatory, or investment advice, and Figment’s validator services generate rewards, not yield or returns.
Contacts
For media inquiries, please contact:
Alyssa Quevillon
press@figment.io