Succinct is the team behind SP1, a general-purpose zero-knowledge virtual machine (zkVM), and the Succinct Prover Network, a decentralized marketplace for generating ZK proofs at scale. SP1 is the most widely used zkVM in production, securing billions in digital assets across leading companies.

Bringing ZK Infrastructure to Institutional Custody

Succinct Labs builds the tools that make zero-knowledge proofs practical for developers. Its flagship product, SP1, is a high-performance, open-source zkVM. The Succinct Prover Network takes what was once a specialized, centralized process and turns it into a global, permissionless marketplace, pairing the SP1 zkVM with open proof markets and a decentralized network of provers to put cryptographic verification within reach of anyone.

As Succinct grew from a developer tool into critical financial infrastructure, it needed an institutional-grade custody partner that could keep pace, including support for its native PROVE token and the staked derivative, stPROVE.

The Challenge

In 2024, Succinct Labs raised $55 million in a Series A led by Paradigm, and with that capital came institutional complexity to match: treasury management, token custody, and the need to give institutional clients access to staking rewards, all inside a fully regulated framework.

The PROVE token is the economic foundation of the Succinct ecosystem, aligning provers, developers, and users while securing the network through staking. Supporting both liquid PROVE and its staked form, stPROVE, meant Anchorage Digital had to move quickly on a novel asset class with no established custody precedent at a federally regulated institution.

What We Built Together

PROVE and stPROVE custody. Anchorage Digital added stPROVE to its custody platform, becoming one of the first federally chartered banks to offer regulated access to both the PROVE token and its staked derivative for institutional clients.

Staking access. Clients can stake PROVE directly from Anchorage Digital custody to help secure the Prover Network and earn rewards, with stPROVE held under the same institutional-grade protections as any other custodied asset.

Infrastructure for a new asset class. The Succinct Prover Network launched as a decentralized, on-chain marketplace that matches proof requests with high-performance provers to optimize cost, speed, and availability, turning proof generation into a scalable service layer for applications, rollups, bridges, and modular infrastructure. Anchorage Digital custody gives institutions a compliant way in.

What’s Next

Succinct’s milestones already include real-time proving for Ethereum, bringing ZK proofs to major rollups like Optimism, Arbitrum, Polygon, and Base. Now it is taking proving beyond blockchain, to governments, financial institutions, and Fortune 500s. As that adoption accelerates, Anchorage and Succinct are positioned to bring institutional participation in the ZK proving economy under the same regulated, trusted infrastructure that already powers the world’s leading crypto institutions.