Anchorage Digital Bank is enhancing its service offerings with new custody support for tokens on the Solana blockchain.
The federally chartered crypto custodian will initially support a select range of tokens that adhere to Solana’s SPL standard. This includes notable assets such as USDC, HNT, W, PYTH, and MPLX. The move marks an important expansion for Anchorage, which began offering custody for Solana (SOL) tokens in 2022 and introduced staking support in the following year.
McCauley emphasized that the company has been deliberate in rolling out custody support for SPL tokens, taking time to ensure robust infrastructure and security measures were in place. “We’re very responsive to what our clients ask for,” he said, highlighting the company’s commitment to meeting customer needs.
The decision to support Solana tokens comes after a challenging period for the blockchain. In early 2023, the Solana ecosystem faced significant setbacks following the collapse of FTX, which affected the blockchain’s reputation and trading volumes. Despite these challenges, the ecosystem has shown resilience, with users and developers continuing to engage with Solana-based projects and platforms.
While Anchorage’s new custody service will initially cover only a handful of Solana assets, the company plans to expand its offerings based on customer demand and thorough due diligence. However, it is unlikely that meme coins will be included in the initial roll-out.
This expansion underscores Anchorage’s ongoing efforts to provide comprehensive and responsive custody solutions in the evolving crypto landscape.
