Sharps Technology Expands Solana Treasury with Coinbase
- Sharps Technology teams up with Coinbase to expand its Solana-based crypto treasury.
- The company holds over 2 million SOL tokens valued at $400 million as of October 2025.
- Sharps changes from medical devices to blockchain finance, boosting its long-term outlook.
Sharps Technology announced today a strategic collaboration with Coinbase Global to expand its Solana (SOL) digital asset treasury strategy. The partnership is a step forward for the company’s change from traditional medical devices toward blockchain-based finance. Sharps has accumulated over two million SOL tokens, valued at $400 million, with SOL trading above $225 at the time of writing.
Institutional Collaboration and Treasury Management
Sharps Technology, as part of the agreement, will utilize Coinbase Prime’s institutional custody and over-the-counter (OTC) desk solutions to hold its Solana holdings. Through the partnership, the company can enhance liquidity, security, and transparency in its growing digital asset portfolio.
“Large-scale treasury management requires institutional-grade tools, deep liquidity, and competitive pricing, and that’s exactly what Coinbase provides,” says James Zhang, Strategic Advisor to Sharps Technology.
Coinbase’s network is key to enabling secure operations for institutional clients that manage blockchain assets. The exchange has expanded institutional product offerings, with a focus on regulated custody and advanced trading services.
The collaboration is a disciplined entry into the digital asset economy by Sharps while maintaining regulatory compliance and operational integrity. The move follows as Sharps Technology continues to build financial resilience through diversified asset allocation.
Through access to Coinbase’s infrastructure, Sharps benefits from institutional-grade custody solutions and efficient execution processes. This makes Sharps part of a growing list of publicly traded companies to explore blockchain-based treasury programs.
Change Toward Solana Focused Assets
Sharps Technology’s shift toward a Solana-focused strategy began earlier in 2025 after the firm altered its business focus from healthcare technology to blockchain asset management. The company aims to take advantage of Solana’s scalability and growing DeFi ecosystem.
Latest developments include partnerships with Jupiter Exchange and Pudgy Penguins in order to further integrate Solana products into its business. As part of its partnership with Jupiter Exchange, Sharps stakes its SOL positions within Jupiter’s validator network and uses JupSOL, a liquid staking product designed to optimize yield efficiency.
Additionally, its partnership with Pudgy Penguins, a Solana-based NFT project, further propels its exposure within the marketplace of the network. These developments are in accordance with its goal of building a diversified treasury of traditional and blockchain-derived assets to be used for hedged risks and long-term value.
The company’s $400 million led by Cantor Fitzgerald provided capital to fund these blockchain projects. Sharps has also demonstrated to have adequate liquidity management with a current ratio of 4.35, even with a negative EBITDA of $10.23 million in the past twelve months. The firm’s stock, at $6.69, has surged by 59% in six months.
Related: Whale Moves $171M in Solana to Coinbase Institutional: Exit or Adoption?
Coinbase and Institutional Solana Adoption
Coinbase’s involvement with Sharps coincides with its broader expansion into Solana-related infrastructure and institutional services. The exchange also increased its Solana transaction volume by fivefold and upgraded its liquidity infrastructure to better handle more demand during times of increased network activity.
These enhancements boost efficiency and reliability for customers like Sharps with Solana assets. Institutional demand for Solana is also on the rise, driven by new financial products like Solana spot ETFs that have begun trading in Canada by 3iQ and Evolve.
In addition, collaborations between major firms like Franklin Templeton and Coinbase for Solana custody indicate expanding institutional adoption of the network. Sharps’ alliance lends momentum to this trend as corporate treasuries increasingly invest in blockchain solutions to enhance asset diversification.
Sharps Technology settled recent litigation and pushed back its SEC filing dates to allow management to concentrate on its blockchain initiatives. The Coinbase transaction positions the firm to capitalize on growing digital asset regulation while continuing to execute its treasury growth strategy.
In addition, Sharps Technology’s integration with Coinbase helps to support its commitment to institutional-grade digital asset management on the Solana network. By taking Coinbase Prime trading and custody in-house, the company enhances the security of operations and transparency while boosting exposure to blockchain. The company is increasing collaborations and asset base, similar to a strategic lean towards combining traditional finance and decentralized technologies to support its long-term treasury goals.
