Bybit and Anchorage Digital Partner to Provide Regulated Custody for Staked SOL Token bbSOL

• Anchorage Digital to provide regulated custody for Bybit’s staked Solana token bbSOL.
• Partnership offers institutional-grade access and liquidity to Solana’s DeFi ecosystem.
• OCC lifts consent order on Anchorage, boosting confidence in regulated crypto custody.

Bybit has announced that U.S.-chartered crypto bank Anchorage Digital will provide institutional custody for its staked Solana token, bbSOL. The move establishes bbSOL as a regulated liquid staking token (LST) supported by a federally supervised institution, enhancing its standing within Solana’s decentralized finance (DeFi) network.

According to Bybit, the integration allows institutional clients to stake and manage Solana-based assets while maintaining liquidity and access to staking rewards. The exchange stated that bbSOL offers both institutions and retail users flexibility in earning yields on Solana without locking tokens or assuming excessive exposure. Bybit described the initiative as a structural step toward bridging traditional finance and decentralized protocols.

Anchorage Digital’s involvement provides bbSOL holders with access to custody services that meet U.S. federal compliance standards. The crypto bank’s solution includes regulated oversight, insurance protection, and secure key management. Bybit noted that Anchorage’s custody services align with growing institutional requirements for regulatory assurance in digital asset management.

Leadership Comments on Institutional Access

Emily Bao, Head of Spot at Bybit and founder of Byreal, said the partnership enables institutional investors to enter Solana’s DeFi ecosystem through a regulated pathway. Bao stated that combining Anchorage’s compliance framework with bbSOL’s liquidity creates an institutional-grade product designed for professional investors.

Anchorage Digital’s co-founder and CEO, Nathan McCauley, said the collaboration is part of the bank’s ongoing efforts to expand regulated staking options. He added that bbSOL represents a bridge between institutional-grade security and exchange-level functionality. McCauley emphasized that Anchorage aims to unlock further institutional participation within the Solana network through its custody infrastructure.

Market Data and Regulatory Developments

As of October 29, data from CoinMarketCap shows bbSOL trading at $201.72, marking a 7% daily decline. The token records a 24-hour trading volume of $2.39 million, a total supply of 1.61 million bbSOL, and a market capitalization of $338.32 million. Its total value locked (TVL) stands at $393.49 million, with an estimated annual yield of 5.72%.

The growth follows the U.S. Office of the Comptroller of the Currency’s (OCC) recent decision to lift an earlier consent order against Anchorage Digital. The OCC determined that Anchorage had improved its compliance framework, signaling renewed regulatory confidence.