BNY, Figment to offer ETH staking for institutions

BNY plans to offer cryptocurrency staking services for institutional clients in partnership with staking infrastructure provider Figment, The Block reported. The custody bank plans to integrate Figment’s validator infrastructure into its existing digital asset custody platform, allowing asset managers, ETF issuers, corporations and wealth management firms to stake held assets and earn rewards. The service will initially support ETH, with plans to expand to SOL later. No specific launch timeline was disclosed.