Solana News Today: Sharps Vaults $435M Solana with Coinbase, Bridging Traditional-Finance and Blockchain

Sharps Technology, Inc. (NASDAQ: STSS) has entered into a strategic partnership with Coinbase Global, Inc. to enhance its Solana (SOL) treasury management strategy. The company has transferred its $435 million Solana treasury, comprising over 2 million SOL tokens, to Coinbase Prime, the institutional arm of the U.S.-based cryptocurrency exchange. This move is intended to leverage Coinbase's secure custody solutions, deep liquidity, and regulated over-the-counter (OTC) trading infrastructure, enabling Sharps to manage its large-scale holdings with institutional-grade security and efficiency Full Source Title^[1]. James Zhang, strategic advisor to Sharps Technology, emphasized that Coinbase's platform provides the necessary liquidity and pricing efficiency to manage one of the largest Solana treasuries in the market Full Source Title^[2].

The partnership follows a significant capital raise by Sharps in August 2025, during which the company secured $400 million through a private investment in public equity (PIPE) deal led by ParaFi Capital, Pantera Capital, and Monarq Asset Management. The financing was structured to build what the company described as the "world's largest Solana treasury." As part of this strategy, Sharps also signed a memorandum of understanding with the Solana Foundation to acquire $50 million worth of SOL at a 15% discount to its 30-day average price. The agreement underscores a shared objective to position Solana as a global financial infrastructure layer capable of handling institutional-scale transactions Full Source Title^[1].

In October 2025, Sharps further solidified its commitment to shareholder value by announcing a $100 million stock repurchase program. The initiative allows the company to buy back common shares through open market and private transactions while maintaining a robust balance sheet alongside its blockchain treasury holdings. The decision to entrust Coinbase with its Solana reserves reflects Sharps' emphasis on regulatory compliance and asset protection, particularly as institutional adoption of digital assets continues to grow Full Source Title^[1].

Coinbase Prime, which caters to institutional clients, offers insured custody and integrated trading services tailored for corporate treasuries. This partnership aligns with broader trends in the crypto industry, where firms increasingly seek regulated platforms to manage large-scale digital asset holdings. For instance, Helius, another Solana-focused digital asset treasury (DAT) firm, has also expanded its Solana holdings, with institutional treasuries now exceeding $4 billion across 18 participants, representing 3.1% of the token's circulating supply Full Source Title^[1]. Forward Industries, a major player in this space, holds 6.8 million SOL tokens valued at $1.69 billion, highlighting the competitive landscape for corporate Solana treasuries Full Source Title^[1].

Sharps' treasury strategy is part of a broader shift in traditional companies adopting blockchain-based finance. The company's transition from a medical device sales and distribution business to a Solana-focused treasury operator has been marked by aggressive capital allocation and strategic partnerships. By leveraging Solana's high throughput and low-cost transactions, Sharps aims to generate on-chain yields while contributing to the ecosystem's growth. The firm's approach mirrors that of DeFi Development Corp. and other DATs, which are also expanding their Solana holdings to capitalize on the network's institutional adoption Full Source Title^[2].

The partnership with Coinbase is expected to strengthen Sharps' position in the Solana ecosystem while providing transparency and liquidity for its treasury operations. As institutional demand for digital assets grows, the collaboration highlights the increasing convergence between traditional finance and blockchain infrastructure.