Crypto.com and Sharps Technology partner in expanding Solana treasury solutions 

In this post: 

• Sharps Technology collaborates with Crypto.com to manage its Solana treasury valued at over $400 million.
• Sharps Technology holds over 2 million SOL and plans to deploy part of it into Solana native projects.
• Crypto.com provides custody infrastructure and an OTC desk with deep liquidity and discreet execution.

Sharps Technology (STSS) and Crypto.com announced today a partnership to expand the Solana ecosystem via institutional-grade treasury solutions. The collaboration will utilize Crypto.com’s infrastructure to manage and deploy more than $400 million worth of Sharps Technology Solana holdings into a digital asset treasury strategy.

STSS has accumulated over 2 million SOL, valued at roughly $418 million based on the current price. The firm is among the largest corporate holders of Solana, with more than 6.8 million SOL in holdings, among giants like Forward Industries. According to STSS, a Solana-focused treasury strategy is both a balance sheet measure and a corporate commitment to incorporating TradFi with blockchain networks.

Crypto.com to manage $400 million worth of STSS’s digital asset treasury

Crypto.com provides custody infrastructure services and an OTC desk with deep liquidity and discreet execution. STSS has collaborated with the custody infrastructure to manage its assets, benefiting from an institutional-grade custody platform with competitive pricing. The firm hopes the collaboration will generate yield while also contributing to the liquidity and expansion of the broader Solana ecosystem. Crypto.com will also integrate additional Solana projects into its custody framework to increase institutional access to the network. 

“STSS has an ambitious vision for its digital asset treasury strategy, and we are excited to partner with them to help realize that vision. Crypto.com is uniquely built to offer the comprehensive capabilities institutions require to safely and effectively manage digital asset treasuries.”

• Eric Anziani, President and Chief Operating Officer of Crypto.com

James Zhang, Strategic Advisor to STSS, confirmed that the company views its treasury strategy as part of its mission to expand an open and efficient financial infrastructure. He highlighted that Crypto.com’s platform, hosting over 150 million users, provides them with institutional-grade tools and liquidity to manage their Solana treasury and contribute to the growth of the Solana ecosystem. He acknowledged that collaboration is essential in aligning STSS’s long-term corporate strategy with innovation at the forefront of digital finance.   

After the announcement, STSS stock on NASDAQ is up 2.68%, trading at $6.90, with a day range of $6.40 – $7.09. During the pre-markecrypto.com/custodyt session, the stock rallied up only 0.87% but has continued to climb, showing positive investor sentiment towards the firm’s strategy. 

Solana gains 32% in 12 months, fueled by institutional adoption

Crypto.com, founded in 2016, has built its reputation on regulatory compliance, security, and privacy. Its vision is Cryptocurrency in every wallet. Its institutional offerings include custody, liquidity services, and execution support for large asset managers. The firm has invited clients interested in custody solutions to submit requests via its portal.

STSS core operations lie in the medical and pharmaceutical packaging, while digital asset treasury management adds as a balance sheet strategy. The firm has expanded into the capital markets to accumulate and deploy SOL. According to Coingecko data, the firm is ranked fourth among the corporate institutions holding SOL with 2 million SOL tokens. 

Forward Industries has the highest SOL tokens among corporate treasuries, with 6.82 million SOL, representing approximately 1.25% of the total SOL supply. DeFi Development Corp. and  Upexi follow closely, with approximately 2.1 million SOL and 2.02 million SOL, respectively. Forward Industries, which launched this September as a $1.65 billion Solana-focused asset treasury, has helped Solana increase its gains this year, currently at 32% over the past 12 months: Galaxy Digital, Jump Crypto, and Multicoin Capital back the fund. Solana’s total locked value is currently $11.37 billion on DefiLlama.