Sharps Technology, Inc. (STSS) is expanding its digital asset strategy by working with Crypto.com to manage its Solana holdings.
The official announcement reads, “STSS is an emerging leader in digital asset treasury management, with a bold vision to align traditional finance with the Solana ecosystem.”
The collaboration will allow Sharps Technology to use Crypto.com’s platform to manage its digital asset holdings, including secure custody services and over-the-counter trading. As part of the plan, the company also intends to support Solana-based projects. They are planning to increase liquidity within the Solana network through professional custodians and contribute to its broader development.
Strategies to grow Solana
Sharps Technology has over $400 million in Solana, with every SOL exchanging at over $200. The company plans to invest part of this through Crypto.com into Solana-based projects to earn returns while helping increase liquidity in the Solana network.
Eric Anziani, President and COO of Crypto.com, said that STSS has a bold plan for its digital asset treasury and that the partnership will help the company manage it safely and effectively. He added that institutions need the right tools to handle large digital asset holdings responsibly.
James Zhang, Strategic Advisor to STSS, emphasized that the digital asset treasury is part of a broader goal to support efficient and open financial systems. He added, “Partnering with Crypto.com, a platform with over 150 million users, provides us with the institutional-grade tools and liquidity access to responsibly manage one of the largest Solana treasuries, while also directly contributing to the growth of the Solana ecosystem.”
Earlier this month, Sharps Technology partnered with Pudgy Penguins, a prominent Web3 brand, to integrate its intellectual property with STSS’s Solana treasury.
Sharps Technology, Inc. (STSS) closed at $6.72, up 5.66% for the day. In pre-market trading, the stock was at $6.96, reflecting a further gain of 3.57%, according to Yahoo Finance.