According to BlockBeats, on August 6, Anchorage CEO Nathan McCauley announced that the cryptocurrency bank is expanding its custody support to include tokens on the Solana blockchain.

The federally chartered custodian will initially allow its clients, ranging from venture capital firms and hedge funds to protocol treasuries, to store a limited number of tokens adhering to Solana's SPL standard.

Anchorage began adding custody support for Solana-based tokens in 2022 and introduced staking support last year. McCauley noted that the company has been cautious in establishing and launching custody support for SPL tokens, opting not to act too quickly due to some setbacks experienced by the Solana chain.