Anchorage is adding custody support for tokens on the Solana network.

according to CoinDesk, cryptocurrency bank Anchorage CEO Nathan McCauley stated that the company is increasing custody support for tokens on the Solana blockchain.

The federally chartered custodian will initially allow its clients (ranging from venture capital firms and hedge funds to protocol libraries) to store a limited number of tokens that comply with Solana's SPL standard.

Anchorage began increasing custody support for Solana-based tokens in 2022 and only added staking support last year. McCauley mentioned that the company has been waiting to establish and launch custody support for SPL tokens, rather than acting too quickly or prematurely, as the chain has already faced some setbacks.