Per NFL Network's Ian Rapoport, the Giants are giving Askew-Henry a two-year contract and will let him compete for time as the nickel cornerback.
Askew-Henry played college football at West Virginia University from 2014-18, starting all 51 games he played and an honorable mention All-Big 12 player as a senior.
After going undrafted by NFL teams in 2019, Askew-Henry signed with the Pittsburgh Steelers as a free agent. The 24-year-old appeared in all four preseason games, making nine combined tackles and one pass breakup, but he was among the final wave of roster cuts on Aug. 31.
The New York Guardians drafted Askew-Henry with the No. 31 overall pick. He was leading the league with six pass breakups through five games before the XFL season was canceled due to the coronavirus pandemic.
The Giants currently have James Bradberry, DeAndre Baker, Sam Beal, Corey Ballentine, Grant Haley, Derrick Baity Jr. and Rashaan Gaulden at cornerback on their roster.