Bybit’s bbSOL gains institutional custody from Anchorage Digital, advancing institutional adoption on Solana

Institutions have long eyed the high yields offered by decentralized finance, but one thing has stood in the way: trust. Between regulatory gray zones and the lack of bank-grade custody, few have found a compliant path into staking on networks like Solana.

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, wants to change that. Today, the exchange announced that its staked Solana token, bbSOL, is now supported for institutional custody by Anchorage Digital, the first federally chartered crypto bank in the United States.

The move gives bbSOL a regulated foundation inside Anchorage Digital’s custody platform, offering funds and asset managers a secure and compliant way to access Solana staking rewards without sacrificing liquidity. It’s a meaningful step toward closing the gap between traditional institutions and decentralized finance.

bbSOL, launched by Bybit as an exchange-backed liquid staking token, allows holders to participate in Solana staking while keeping their assets liquid for trading or other DeFi activity. Through Anchorage Digital’s federally supervised infrastructure, bbSOL holders gain the added confidence of bank-level security and oversight—a blend that could draw more institutional participation into Solana’s DeFi markets.

“Anchorage Digital’s integration represents a major leap in bbSOL’s evolution as an institutional-ready product,” said Emily Bao, Head of Spot at Bybit and Founder of Byreal. “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.”

For Anchorage Digital, the partnership reinforces its role as a bridge between decentralized finance and regulated asset management. “We’re thrilled to unlock additional opportunities for institutions to participate in the Solana ecosystem through liquid staking, backed by Anchorage Digital’s security,” said Nathan McCauley, CEO and Co-Founder of Anchorage Digital.

Bybit’s collaboration with Anchorage Digital aligns with its broader strategy to make decentralized finance accessible to institutions that have been cautious about regulatory and custody risks. By combining liquidity, transparency, and federal compliance, bbSOL now stands as one of the few staking products merging exchange-grade performance with institutional-grade protection.

The latest partnership follows Bybit’s recent efforts to broaden access to digital assets. Four months ago, the exchange launched a limited-time event allowing users to buy crypto with more than 25 local fiat currencies, extending its reach to a wider global audience.

Founded in 2018, Bybit serves more than 60 million users worldwide and continues to position itself as a bridge between traditional and decentralized finance. The company’s partnership with Anchorage Digital signals a larger shift: a future where institutional capital can finally participate in on-chain yield with the same confidence it brings to traditional markets.