PANews reported on October 30 that Bybit announced that its Solana-staking asset bbSOL has officially received institutional-grade custody support from Anchorage Digital. Anchorage Digital is the first federally chartered crypto bank in the United States, providing secure and compliant asset custody services to institutional investors.

This collaboration marks a significant step for bbSOL in becoming an "institutional-grade" liquidity staking token (LST) within the Solana ecosystem, creating a safe and reliable pathway for regulated entities to participate in on-chain yields.

bbSOL is a Solana staking asset launched by Bybit, allowing users and institutions to earn Solana staking rewards while maintaining asset liquidity and flexibility. With the secure custody solution of Anchorage Digital Bank, bbSOL holders will benefit from bank-grade security and compliance guarantees that meet US federal regulatory standards, further enhancing the trust of funds, asset management institutions, and enterprises in Solana DeFi.