Anchorage Digital has formally declared support of minting and burning JitoSOL, the liquid staking token on Jito, the leading liquid staking protocol on Solana ($SOL). The move will be the first-ever to allow $SOL holders to directly stake and use JitoSOL through a federally regulated U.S. bank that will not require the involvement of third-party applications like WalletConnect.
Institutional customers and retail $SOL holders can now mint and redeem JitoSOL via Anchorage Digital Bank NA, the sole federally chartered crypto bank in the US, which has been approved to offer staking. Secondly, there is also support through Anchorage Digital Singapore, which is registered as a Major Payment Institution by the Monetary Authority of Singapore.
This integration will make the staking process easier by enabling $SOL holders to mint JitoSOL and directly deposit it on their wallets as well as earn staking and maximal extractable value (MEV) rewards. Redeeming the staked SOL allows users to claim their staked tokens anytime.
Upcoming Support for Self-Custody and Institutional Use Cases
Besides existing platform features, Anchorage Digital will soon enable JitoSOL minting and redemption via Porto, our institutional-grade self-custody wallet. The next feature will have an in-house staking protocol and will not need third-party apps, keeping in line with the Anchorage Digital vision of compliant, secure infrastructure.
The sponsorship of JitoSOL is a calculated decision that follows the increasing demand of regulated liquid staking solutions. As staking-enabled ETFs emerged, JitoSOL and other assets are increasingly being viewed as compliant with traditional staking. The token will interact with both a primary and secondary market structure, with utility to ETF issuers as well as financial product creators.
Anchorage Digital Extends Its Solana ($SOL) Commitment
The launch marks Anchorage Digital‘s first liquid staking expansion outside the Ethereum ecosystem. It augments the firm’s overall support for Solana ($SOL), which is already supported with SPL token custody and USDG transactions. Additionally, its participation in the REX-Osprey Solana ($SOL) and Staking ETF as the staking partner and sole qualified custodian reflects its long-term interest in the Solana ecosystem.
Anchorage Digital is currently offering its services to institutional accounts in its international entities with the support of Goldman Sachs, KKR, Visa, and Andreessen Horowitz.
