Originally reported by ChainCatcher on November 12, 2026, at 21:10 (UTC+8), citing The Block.
BNY plans to use Figment’s validator infrastructure to support staking through its existing digital-asset custody service. Eligible institutional clients would be able to stake supported assets held on the platform. A Figment spokesperson told The Block that ETH would be supported first, followed by SOL. Neither company announced a launch date.
Figment said the prospective clients include asset managers, ETF issuers, corporations and wealth managers. Eligible clients could earn staking rewards on supported assets. BNY’s head of digital-asset custody, Ralf Roth, said the partnership is intended to deliver staking within a custody framework that meets institutions’ expectations for security, oversight and accountability. Figment’s head of revenue, Josh Deems, said its validator infrastructure would give BNY clients another way to participate through their existing platform and service processes. The announcement describes a planned service, not staking that has already gone live for BNY clients.
BNY launched its digital-asset custody service in October 2022, initially accepting Bitcoin and Ethereum for select clients. In October 2026, BNY and Ripple expanded their custody agreement to cover XRP and RLUSD, with plans to let BNY clients mint and redeem RLUSD through the bank.
Separately, Coinbase Prime integrated Figment’s Ethereum staking service in early 2024. When the companies announced an expansion to Solana, Cardano and Sui in October 2025, they said their collaboration had facilitated staking of more than $2 billion in assets. Figment says it has provided staking services to more than 1,500 institutions, including asset managers, custodians, exchanges and wallets.