JitoSOL Launches Institutional Support With Anchorage Digital

Jito Foundation, the organization driving the adoption of Jito protocols through the Jito DAO, has announced that the minting and redeeming operations for JitoSOL are now live, with support from Anchorage Digital. This partnership marks a significant milestone as JitoSOL becomes the first Solana liquid staking token to receive such institutional infrastructure support.

Anchorage Digital, which includes the Anchorage Digital Bank N.A., the sole federally chartered crypto bank in the US, was granted a national trust charter by the Office of the Comptroller of the Currency in January 2021. This collaboration allows institutions and SOL holders to custody, mint, and redeem JitoSOL through Anchorage Digital Bank N.A. or Anchorage Digital Singapore, a payment institution licensed by the Monetary Authority of Singapore. This integration enables users to maintain SOL liquidity while capturing staking and protocol revenue, paving the way for broader adoption by regulated financial entities.

JitoSOL mint and redemptions will soon be available through Porto, Anchorage Digital’s self-custody wallet, offering an additional layer of control for those who prefer self-custody. The integration includes institutional-grade security features such as hardware security modules, biometric authentication, and behavioral analytics, ensuring a secure and seamless experience for users.

The Jito Foundation has also published the JitoSOL Securities Classification Report, which outlines why JitoSOL does not constitute a security under US law. Additionally, a memorandum guiding the tax treatment of liquid staking has been released, positioning JitoSOL as one of the most accessible and well-prepared assets for integration into mainstream financial products.

This partnership comes at a time when discussions around staking-enabled exchange-traded funds (ETFs) are gaining traction. Thomas Uhm, Chief Commercial Officer at Jito Foundation, highlighted that JitoSOL satisfies many of the operational requirements for modern ETF issuers and other developers of regulated financial products, thanks to its support for in-kind creation and redemption, primary and secondary market liquidity, and compatibility with a trusted partner like Anchorage Digital.

Nathan McCauley, CEO of Anchorage Digital, expressed pride in offering expanded support for JitoSOL, stating that this integration marks their growing support for the Solana ecosystem. He emphasized the excitement in making liquid staking and the Solana DeFi ecosystem accessible to a growing number of institutions.

In summary, the partnership between JitoSOL and Anchorage Digital represents a significant step forward in the adoption of liquid staking tokens within the Solana ecosystem. By providing institutional-grade custody and seamless minting and redeeming operations, this collaboration aims to make liquid staking more accessible and secure for a broader range of users, including regulated financial entities. This development is expected to pave the way for the integration of liquid staking tokens into mainstream financial products, such as ETFs, further solidifying their role in the evolving landscape of digital assets.