Originally reported November 12, 2026, at 21:10 (UTC+8). ChainCatcher, citing The Block, reported that BNY plans to use Figment’s validator infrastructure to support staking for eligible institutional clients through BNY’s existing digital-asset custody platform. The two companies did not announce a launch date. Initial support is expected for ETH, with SOL to follow.
The arrangement places BNY’s custody service and Figment’s validator infrastructure in distinct roles. Figment said eligible clients—including asset managers, ETF issuers, corporations and wealth managers—would be able to stake supported assets on the platform and earn staking rewards. The report does not specify the contractual allocation of staking risks or customer claims; access through a custody platform alone does not establish those terms.
BNY digital-asset custody head Ralf Roth said institutions are increasingly focused on how staking is delivered, rather than simply whether they can access it. Figment revenue head Josh Deems described the integration as another way for clients to stake within BNY’s existing platform and service processes.
BNY launched its digital-asset custody service in October 2022, initially accepting Bitcoin and Ether from selected clients. In October 2026, BNY and Ripple expanded a custody agreement to cover XRP and RLUSD, with plans to let BNY clients mint and redeem RLUSD through the bank.
For context, Coinbase Prime integrated Figment’s Ethereum staking service in early 2024. When the companies announced an expansion to networks including Solana, Cardano and Sui in October 2025, they said the partnership had facilitated more than $2 billion in staked assets. Figment says it has provided staking services to more than 1,500 institutions.