- bbSOL gains institutional support for secure custody and compliance.
- Anchorage Digital offers federally regulated custody solutions.
- This partnership aims to stimulate Solana DeFi participation.
**Bybit’s bbSOL gains institutional custody through Anchorage Digital.** This partnership enhances regulatory compliance and liquidity for institutional investors engaging with Solana’s DeFi, mirroring past successes like Ethereum’s stETH integration.
Bybit’s liquid staked SOL token, bbSOL, receives custody support from Anchorage Digital, enhancing institutional access to Solana’s DeFi. This collaboration reinforces compliance and liquidity for institutional investors entering the Solana ecosystem.
The collaboration between Bybit and Anchorage Digital signifies a strategic step towards enhancing institutional participation in Solana’s DeFi market, offering a compliant entry point. This partnership aligns with growing confidence in regulated DeFi access. Bybit’s bbSOL, a staked token linked to Solana, is now under Anchorage Digital’s institutional custody. Aimed at facilitating secure and compliant access for institutional investors, this move could boost Solana’s DeFi participation.
“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.” – Emily Bao, Head of Spot, Bybit
This new custodial support offers bank-grade security under federal oversight. It’s expected to attract institutional funds, potentially increasing total value locked (TVL) in the Solana ecosystem. Increased institutional presence generally benefits market depth.
The move reflects growing institutional interest in digital assets, specifically in compliant frameworks. As similar setups have catalyzed Ethereum’s institutional growth, Solana could see a parallel trend with increased investments and DeFi activity.
Anchorage Digital’s involvement, recognized for its federal charter, emphasizes regulatory security. Insights drawn from previous projects, like Ethereum’s stETH involvement, suggest this could pave the way for enhanced technological accessibility and financial growth in the market.
About the author
Bybit’s bbSOL Gains Anchorage Digital Custody Support
Bybit's liquid staked SOL token, bbSOL, now benefits from custody support by Anchorage Digital, enhancing institutional access and compliance in Solana's DeFi ecosystem.
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