Case Study: Succinct Labs achieves institutional custody for zero-knowledge proving with Anchorage Digital

Succinct Labs secures $4B+ in institutional custody with Anchorage Digital

Succinct Labs, a company building zero-knowledge proof infrastructure, faced the challenge of managing its institutional treasury and custody needs following a $55 million Series A funding round. They required an institutional-grade custody partner from Anchorage Digital to securely hold their novel PROVE token and its staked derivative, stPROVE, within a fully regulated framework.

Anchorage Digital implemented a custody solution for both PROVE and stPROVE, making them one of the first federally chartered banks to offer regulated access to this new asset class. This provided Succinct Labs' institutional clients with a compliant way to stake tokens and participate in the network, which has generated over 6 million proofs and secured more than $4 billion in value.

Succinct Labs