Wells Fargo, the third-largest bank in the United States, has officially launched tokenized deposit facilities for its corporate clients. According to information from a tweet by the @WatcherGuru account on X that garnered 2,455 likes, this maneuver is part of a growing trend of blockchain technology adoption that is now becoming more widespread among traditional financial institutions.
Wells Fargo’s move is not happening in isolation. At almost the same time, BNY - the institution previously widely known as the Bank of New York Mellon - also made a move. They officially partnered with Galaxy Digital to add crypto staking services to their digital asset custody platform.
Crypto Staking Without the Hassle of Changing Custodians
To realize this plan, BNY chose Galaxy Digital as the primary infrastructure provider for their staking services. Through this new facility, institutional clients will be able to directly stake crypto assets that are already stored in BNY’s custody wallets.
This workflow provides a key convenience. Corporate clients no longer need to withdraw or transfer their crypto assets to a separate staking provider. However, this staking feature is not yet active in the market, as it is still waiting for the green light and approvals from relevant regulatory bodies.
Regulatory certainty is key for BNY, given their scale in the global market. Currently, BNY sits as a financial institution overseeing the movement of tens of trillions of dollars in assets under the company’s custody and administration.
BNY’s Track Record in the Blockchain Space
BNY’s involvement in the blockchain ecosystem is actually nothing new. The banking giant is recorded to have launched its first crypto custody service back in 2022. It did not stop there; BNY has also moved its core transfer records from legacy systems to a blockchain network.
Looking ahead, BNY has a long-term blueprint. They are preparing a transaction settlement system that operates 24 hours a day, seven days a week for tokenized US Treasury instruments, with a target launch in 2027.
Signaling Wall Street’s Entry in 2026
The simultaneous moves by these two major institutions send a clear signal about where institutional money is flowing. The combination of tokenized deposit facilities offered by Wells Fargo and crypto staking services from BNY marks a strong wave of Wall Street banks entering the crypto space in full force throughout 2026.
This is no longer a trial discourse. Crypto is beginning to secure an established position within the service offerings of the world’s major banking institutions. The gatekeepers of the legacy financial system are no longer just monitoring the market, but are directly competing to build their own financial infrastructure.
Reported from @WatcherGuru on X.
Read also: What Is DeFi (Decentralized Finance)?
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
