Anchorage Digital Bank N.A., the only federally chartered crypto bank, is announcing expanded support for the Solana ecosystem.
In addition to native SOL, institutions can now “custody SPL tokens from the safety and security of Anchorage Digital Bank.”
The SPL token standard governs how tokens and NFTs “on the Solana network operate, ensuring interoperability across the ecosystem.”
As a clear-cut qualified custodian, Anchorage Digital Bank works “with crypto protocols to streamline institutional participation via custody, staking, treasury management, and other services.”
Anchorage Digital Bank has “supported native SOL custody since 2022 and staking since 2023.”
The addition of SPL token support “marks the latest in our work to meet rising institutional demand for access to the Solana ecosystem.”
Nathan McCauley, CEO and Co-Founder of Anchorage Digital said:
“For institutions, having safe and secure access to leading networks like Solana is essential. By adding support for SPL tokens, Anchorage Digital Bank is unlocking a new era for institutional participation across the Solana ecosystem. We are proud to add additional support for Solana as Anchorage Digital works to meet institutional demand for safe, secure, and regulated crypto.”
SPL tokens are used across the Solana network “for a wide range of use cases, including dApp participation, tokenization, payments, governance, and more.”
‘The addition of SPL custody support “at Anchorage Digital Bank marks the latest move in institutional adoption for Solana, which in January 2024 launched token extensions to meet the needs of enterprises building in the ecosystem.”
As noted in the update, Anchorage Digital is a crypto platform “that enables institutions to participate in digital assets through custody, staking, trading, governance, settlement, and the industry’s leading security infrastructure.”
Home to Anchorage Digital Bank N.A., the “only federally chartered crypto bank in the U.S., Anchorage Digital also serves institutions through Anchorage Digital Singapore, Porto by Anchorage Digital, and other offerings.”
The company is funded by institutions “including Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa, with its Series D valuation over $3 billion.”
Founded in 2017 in San Francisco, California, Anchorage Digital “has offices in New York, New York; Porto, Portugal; Singapore; and Sioux Falls, South Dakota.”
Anchorage Digital Bank National Association “offers fiat custody services through the use of an FDIC-insured, licensed sub-custodian.”
