Anchorage Digital, a crypto platform for investors and web3 developers, announced that it will have custody support for MON, which is the native token of Monad, upon mainnet launch. Asset holders will have a way to hold and stake the token via Anchorage Digital’s custodial platform, or through their so-called “institutional-grade” self-custody wallet, Porto.
Monad is an EVM-compatible L1 blockchain. It introduces parallel execution and an optimized consensus mechanism to improve “transaction speed and scalability while maintaining full compatibility with existing EVM applications.”
By combining high throughput with a development environment familiar to EVM builders, Monad is designed to provide “the foundation for the next generation of decentralized applications.”
Nathan McCauley, CEO Anchorage Digital explained that the platform’s role is to connect institutions with the blockchain ecosystems. By becoming a custodian for MON, they’re “giving Monad’s institutional ecosystem secure access to the network from day one, as well as empowering innovators building directly on Monad.”
Keone Hon, Co-Founder, Monad Foundation said that Anchorage Digital made it easier to bring MON to institutional audiences.
Anchorage Digital’s support was “invaluable from early stages, from managing our private mint to building integrations for a custody solution, to offering investors interested in the Monad ecosystem an access point for participation.”
Anchorage Digital says it is committed to expanding access to various ecosystems and supporting protocols for growth.
Support for MON reflects that mission, creating a pathway for institutions to participate in Monad’s ecosystem.
As covered, Anchorage Digital is a platform that enables institutions to participate in digital assets via trading, staking, custody, governance, settlement, stablecoin issuance, and the industry’s security infrastructure.
As reported recently, Anchorage Digital was selected to serve as a custodian for Stable’s mainnet launch, providing custody support for its “native STABLE token and USDT0, a bridged version of Tether’s USDT stablecoin, on day one.”
As Stable prepares to go live, they’re eager to offer custody for these assets through Anchorage Digital Bank and Anchorage Digital Singapore. Self-custody through Porto, their institutional-grade wallet, will also be available.
As noted in the update, staking support for STABLE will follow soon.
Stable is a blockchain designed to bring “stablecoin-native infrastructure to global markets.” It enables onchain “settlement, payments, and liquidity built directly around stablecoins.”
Anchorage Digital has worked with the Stable team as they prepare to go to mainnet. With this partnership, institutional participants will have an entry point to custody and “transact within the Stable ecosystem.”