In a pivotal development for the blockchain industry, the crypto custodian Anchorage has announced the extension of its custodial services to encompass tokens based on the Solana blockchain. This was revealed by CEO Nathan McCauley in an exclusive conversation with CoinDesk.

As a federally chartered institution, Anchorage will commence by permitting its clientele—which spans venture capital entities, hedge funds, and the treasuries of various protocols—to securely store a select array of tokens adhering to Solana’s SPL (Solana Program Library) standard.

Anchorage initiated the inclusion of custodial services for Solana-based tokens in 2022, with staking support being introduced in the subsequent year. McCauley explained that the company prudently opted to meticulously develop and implement custody solutions for SPL tokens, avoiding hasty expansions despite the blockchain’s turbulent phases.

Nevertheless, “we’re acutely attuned to our clients’ requests,” McCauley remarked.

The Solana ecosystem faced substantial skepticism in early 2023 following the catastrophic collapse of FTX, which inflicted severe collateral and reputational damage. Despite this, Solana’s community of developers remained steadfast, with users gradually returning to engage in trading, staking, and minting new tokens on platforms such as Pump.fun, a notable launchpad for memecoins.

However, the majority of these memecoins will not immediately receive custody support from Anchorage. Initially, Anchorage is accommodating only a limited selection of assets, including USDC, HNT, W, PYTH, and MPLX. The addition of further assets will be contingent upon customer demand and comprehensive due diligence reviews.