BNY Mellon partners with Figment to provide institutional staking support for its custody platform
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AT A GLANCE
According to the report, BNY Mellon will provide staking services through Figment to eligible institutional clients on its digital asset custody platform.
Article
BNY Mellon to provide staking support for its digital asset custody platform through Figment
PANews November 12 news, according to The Block, BNY Mellon (BNY) has reached a partnership with staking infrastructure provider Figment to support institutional staking services on BNY's digital asset custody platform through Figment's validator node infrastructure. Eligible asset management institutions, ETF issuers, and other institutional clients will be able to stake the relevant assets they custody at BNY.
PANews November 12, citing a report by The Block, BNY Mellon (BNY) has reached a partnership with staking infrastructure provider Figment.
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BNY will support institutional staking services on its digital asset custody platform through Figment's validator node infrastructure.
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Eligible asset management institutions, ETF issuers, and other institutional clients will be able to stake the relevant assets they custody at BNY.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This partnership will allow eligible institutional clients to use staking services for relevant assets already custodied at BNY, with the underlying validator node infrastructure provided by Figment. The report describes services to be provided and does not confirm that they are already live.
Why it matters to readers
The partnership connects institutional digital asset custody with staking services, involving asset management institutions, ETF issuers, and other eligible institutional clients.
This is not a staking announcement open to all users; the report limits eligibility to institutional clients and does not specify which assets can participate.
Risks and unknowns
The service launch time and the specific supported assets were not disclosed.
The specific requirements for client eligibility, fees, or commercial terms were not stated.
Staking yields, exit conditions, or risk arrangements were not disclosed.
The current material is a media paraphrase and does not provide direct announcements from either party to the partnership.
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Staking
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