Bybit’s bbSOL Secures Custody from Anchorage Digital to Strengthen Institutional Access

Highlights:

• Bybit’s bbSOL secures custody from Anchorage Digital to boost institutional access.
• The move aims to position bbSOL as an institutional-grade liquid staking token (LST) within the Solana ecosystem.
• bbSOL users will gain secure and transparent access to Solana’s decentralized finance (DeFi) space.

Bybit’s staked Solana token (bbSOL) has secured institutional custody support from Anchorage Digital, the first federally chartered crypto bank in the United States. The Dubai-based exchange announced the partnership in a press release on October 29, describing it as an important milestone for bbSOL.

According to the press release, Anchorage Digital’s partnership positions bbSOL as an institutional-grade liquid staking token (LST) within the Solana ecosystem. Beyond expanding the token’s reach, it provides secure and compliant ways of accessing on-chain yield opportunities through Solana staking.

Meanwhile, the move comes a few days after Bybit had secured the first Virtual Asset Platform Operator Licenses from the UAE’s Securities and Commodities Authority (SCA). By obtaining such a license, Bybit expanded its presence as one of the top regulated crypto exchanges.

Bybit Staked SOL (bbSOL) is now supported for custody through @Anchorage Digital.

bbSOL is an exchange-backed SOL LST now supported by a U.S. federally regulated crypto bank, broadening access for participation in the @solana DeFi ecosystem.

Read more: https://t.co/PMa4Wiw9EX… pic.twitter.com/Guj73f7v45

— Bybit (@Bybit_Official) October 29, 2025

bbSOL Users will Secure Transparent Entry into Solana’s DeFi Space

Unlike traditional staking methods that lock up assets, bbSOL allows users and institutions to earn Solana staking rewards while maintaining liquidity and flexibility. With Anchorage Digital Bank’s custody solution, bbSOL holders will also benefit from bank-level security and US federal regulatory oversight. Overall, the move is targeted towards boosting investors’ confidence in Solana’s decentralized finance (DeFi) space.

Reacting to the development, Emily Bao, Bybit’s Head of Spot and Byreal’s Founder, described Anchorage Digital’s integration as a significant leap in bbSOL’s growth 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,” he added.

Similarly, Nathan McCauley, Anchorage Digital’s CEO and Co-Founder, spoke about the integration. He expressed his excitement about the move, adding that it will provide new opportunities for individuals and investors. “We’re thrilled to unlock additional opportunities for institutions to participate in the Solana ecosystem through liquid staking, backed by Anchorage Digital’s security,” the CEO stated.

Bybit announced that its Solana staking asset, bbSOL, is now supported by Anchorage Digital, a federally chartered crypto bank in the U.S. offering compliant custody for institutions. This partnership positions bbSOL as an institutionally supported liquid staking token on Solana,…

— Wu Blockchain (@WuBlockchain) October 30, 2025

Global Financial Firms Continue to Adopt Anchorage Digital

On October 29, Crypto2Community reported that Western Union plans to launch its US-dollar-backed stablecoin (USDPT) on the Solana blockchain. According to the publication, the move aims to bridge traditional finance and blockchain technology. Western Union also noted that Anchorage Digital Bank will issue the stablecoin.

Meanwhile, SharpLink Gaming, one of the world’s largest corporate holders of Ethereum (ETH), recently announced plans to deploy $200 million worth of ETH onto Linea. The company is targeting high-ETH-based yields from its latest move, reiterating that its assets will remain under the custody of Anchorage Digital Bank.

In July, Anchorage Digital collaborated with Ethena Labs to launch USDtb, the first GENIUS-compliant stablecoin in the US. The stablecoin rollout was the first to adopt Anchorage Digital’s stablecoin issuance platform. Overall, the partnership aims to connect innovation and regulation, providing safe options for financial firms to engage with stablecoins and other digital assets.

Solana Price Drops Slightly as Bybit’s bbSOL Secures Custody from Anchorage Digital

At the time of press, Solana is trading at $193.85, following a 0.5% decline in the past 24 hours. Despite its short-term decline, SOL’s 7-day-to-date metric showed that the token is up 5%, with price extremes fluctuating between $186.75 and $204.48. Coincodex data showed that Solana’s supply inflation and volatility remained high at 17.31% and 8.29%, respectively. Dominance reflected 2.82%, while sentiment on the token has remained bearish.