Anchorage Adds Support for Tokens on the Solana Blockchain

McCauley emphasized that the company always responds quickly to customer requests. Anchorage began adding support for storing tokens on Solana back in 2022 and only implemented staking support last year. According to McCauley, the company chose to thoroughly prepare for the launch of SPL token custody support rather than rush the process for a blockchain that has gone through some bumps.

Despite the challenges, “we always keep our customers’ needs in mind,” McCauley said.

Many cryptocurrency investors tried to write off the Solana ecosystem in early 2023 after the FTX crash, which caused significant damage and tarnished its reputation. However, Solana’s blockchain developers have continued their work, and users have returned to trade, stake, and mint new tokens on memecoin platforms like Pump.fun, one of the cryptocurrency’s profit machines.

However, many of these memecoins are unlikely to gain custody support on Anchorage anytime soon, despite the expansion for SPL assets. The company will initially only accept a few assets, including USDC, HNT, W, PYTH, and MPLX. Anchorage will add more assets based on customer demand and due diligence.

These service expansions reflect Anchorage’s strategic approach to providing reliable and relevant solutions to its customers. Anchorage is committed to providing high standards of security and compliance, which is especially important in the face of growing interest in Solana-based tokens.

Adding support for Solana-based tokens thus demonstrates Anchorage’s commitment to being at the forefront of digital asset custody services, meeting the needs of a wide range of customers and ensuring its services are highly reliable and secure.