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Sharps Technology Inc. (NASDAQ:STSS) announced on Thursday that it will repurchase up to $100 million of its outstanding stock through open-market purchases and negotiated transactions.
The company is also expanding its Solana-focused digital asset strategy in partnership with Crypto.com, which will provide custody, liquidity, and over-the-counter trading services. The move highlights Sharps' continued commitment to decentralized finance.
Sharps has purchased more than 2 million Solana (CRYPTO: SOL/USD) tokens, valued at over $400 million, with Solana trading above $200. A portion of its holdings will be deployed into Solana-native projects through Crypto.com's platform to earn yield and expand liquidity across the ecosystem.
Also Read: Sharps Technology Soars After Insider Buys and $400M Solana Treasury Plan
Crypto.com President and COO Eric Anziani said, "STSS has an ambitious vision for its digital asset treasury strategy, and we are excited to partner with them to help realize that vision."
Sharps' strategic advisor James Zhang added that the company views its digital asset treasury as a step toward building "open, efficient financial infrastructure.
By aligning with Crypto.com, Sharps aims to connect traditional finance with blockchain assets while positioning itself as a significant institutional player in the Solana ecosystem.
The company framed the partnership as a long-term strategy to support growth in decentralized finance while creating value for shareholders.
Price Action: STSS shares were trading 2.65% higher at $6.96 premarket at last check Thursday.
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