DUBAI, UAE — Bybit, the world’s second-largest crypto exchange by trading volume, announced that its staked SOL token bbSOL is now supported for institutional custody by Anchorage Digital, operator of the first federally chartered crypto bank in the United States. The move positions bbSOL as an institutional-grade liquid staking token (LST) within the Solana ecosystem.
bbSOL: From Exchange to Bank Vault
bbSOL is Bybit’s exchange-backed staked SOL asset. Holders earn Solana staking rewards while maintaining liquidity and flexibility — no lock-up required. With Anchorage Digital Bank’s custody solution, bbSOL holders now get bank-grade security under U.S. federal oversight, addressing a key barrier for funds and asset managers who need regulated custody before deploying capital into DeFi.
The integration directly targets institutions seeking exposure to Solana’s DeFi landscape. Until now, many were hesitant due to the lack of federally regulated custodians supporting liquid staking tokens.
Executive Quotes: Compliance Meets Liquidity
Emily Bao, Head of Spot at Bybit and Founder of Byreal, said: “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.”
Nathan McCauley, CEO and Co-Founder of Anchorage Digital, added: “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 Significance
The partnership bridges exchange-grade performance with institutional-grade protection. Bybit aims to lower the barrier for institutions entering DeFi — no need to self-custody private keys or handle complex on-chain operations. For Solana, attracting a regulated custodian could bring in capital that previously sat on the sidelines due to compliance concerns.
Anchorage Digital, which secured a federal bank charter from the OCC in 2021, already supports custody for multiple major protocols. Bybit, founded in 2018, serves over 60 million users and has been expanding its institutional offerings through partnerships with blockchain protocols.
The announcement doesn’t include fresh TVL or yield figures for bbSOL, but the endorsement from a federally chartered bank is expected to boost confidence among institutional investors looking for a compliant staking gateway.