The medical device firm will manage its $400 million Solana holdings using Coinbase Prime infrastructure to bolster its digital asset strategy
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Sharps Technology Inc. announced on Thursday that it is expanding its Solana digital asset treasury strategy through a partnership with Coinbase Global.
The collaboration will enable Sharps Technology to use Coinbase Prime for custody, liquidity, and over-the-counter (OTC) trading as it manages more than 2 million SOL — currently valued at roughly $400 million with SOL trading above $210.
According to strategic advisor James Zhang, the partnership gives Sharps Technology institutional-grade infrastructure and deep liquidity to support its growing treasury initiative. The company, traditionally focused on medical device sales and distribution, has adopted an unusual digital asset strategy aimed at leveraging blockchain-based yield generation within the Solana ecosystem.
The decision aligns Sharps Technology with a broader trend of public firms incorporating digital assets into balance sheet strategies, echoing earlier moves by Tesla and MicroStrategy. While Coinbase provides regulatory-grade custody, Sharps Technology’s pivot into crypto introduces volatility risk tied to SOL price fluctuations and evolving US oversight of corporate digital asset holdings.
The collaboration highlights Coinbase’s continued expansion into institutional services amid a more moderate regulatory posture by the SEC in 2025. Sharps Technology said it views this partnership as a cornerstone for advancing decentralized finance participation.
This is a developing story.
This article was generated with the assistance of AI and reviewed by editor Jeffrey Albus before publication.
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