Bybit, the world’s second-largest cryptocurrency exchange by trading volume, today announced that its staked SOL token, bbSOL, is now supported for institutional custody by Anchorage Digital, home to the first federally chartered crypto bank in the United States.
This collaboration marks a significant step in positioning bbSOL as an institutional-grade liquid staking token (LST) within the Solana ecosystem, offering regulated entities a trusted pathway to participate in on-chain yield generation.
Understanding bbSOL and Institutional Custody
bbSOL, Bybit’s exchange-backed staked SOL asset, enables users and institutions to access Solana staking rewards while maintaining liquidity and flexibility. With Anchorage Digital Bank’s secure custody solution, bbSOL holders can now enjoy bank-grade security and compliance under U.S. federal oversight—building confidence among funds, asset managers, and enterprises seeking exposure to Solana DeFi.
Quotes from Leadership
“Anchorage Digital’s integration represents a major leap in bbSOL’s evolution as an institutional-ready product. By combining liquidity with regulatory assurance, we’re offering institutions a compliant and transparent entry point into Solana’s DeFi landscape—anchored in the stability and integrity of Bybit.”
“We’re thrilled to unlock additional opportunities for institutions to participate in the Solana ecosystem through liquid staking, backed by Anchorage Digital’s security.”
Strategic Partnership and Future Outlook
Through Anchorage Digital’s infrastructure, bbSOL now bridges exchange-grade performance with institutional-grade protection. The partnership underscores Bybit’s commitment to shaping a secure, compliant, and yield-efficient gateway to decentralized finance for the next wave of institutional participants.
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.