Hassan Maishera
TL;DR
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Crypto bank Anchorage now supports custody for Solana-based tokens.
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This comes following growing demand for its clients.
Solana-based Tokens Now Supported on Anchorage
Crypto bank Anchorage announced on Tuesday that it is adding custody support for tokens on the Solana blockchain. The company’s CEO Nathan McCauley revealed this while speaking to CoinDesk.
Anchorage will initially allow its customers to store several tokens that follow Solana's SPL standard. This feature is open to various customers including venture capital firms, hedge funds, and protocols.
This isn’t the company’s first entry into the Solana ecosystem. Anchorage began adding custody support for Solana-based tokens in 2022 and introduced staking support in 2023.
According to McCauley, Anchorage waited to build out and launch custody support for SPL tokens instead of moving too fast. He added that the support comes due to increased demand from its investors.
Solana has become home to some of the leading meme coins and DeFi protocols in the cryptocurrency space. The blockchain is also one of the fastest in the space, allowing users to trade, stake, and mint new tokens with ease and transparency.
Anchorage currently supports several Solana-based tokens including USDC, HNT, W, PYTH, and MPLX. The crypto bank will add more tokens depending on customer demand.
