Sharps Technology
Sharps Technology, now SkyAI, Inc. (NASDAQ: SKYA), operates a Solana digital asset treasury of over 2 million SOL generating staking yield, and is repositioning as an agentic AI finance platform for Global South markets using stablecoin rails and on-chain data.
- Company typePublic
- Founded2017
- HeadquartersMelville, United States
- Headcount51–100
- GTM typeB2B and B2C
- OfferingSoftware
What Sharps Technology does
Sharps Technology was originally a medical device distribution company founded in 2017, focused on safety syringes and pharmaceutical packaging products. In August 2025, the company executed a strategic pivot, closing an over-$400 million private placement backed by ParaFi, Pantera Capital, and CoinFund to establish a Solana (SOL) digital asset treasury. By Q1 2026 the company held more than 2 million SOL tokens, approximately 95% staked at a ~7% gross annualized yield, generating about $3.1 million in net staking revenue in Q1 2026 and roughly $6.8 million for full-year FY2025. Staking infrastructure was diversified across Coinbase Institutional (validator node), BitGo (OCC-regulated qualified custody, staking, and OTC), Crypto.com (custody and OTC), Jupiter Exchange (liquid staking), and Stakin by The Tie (non-custodial validator). Legacy syringe manufacturing was exited in September 2025, with the medical device distribution business now in managed decline at roughly $0.2 million per quarter.
In May 2026 the company rebranded to SkyAI, Inc. under NASDAQ ticker SKYA, repositioning the business as an "agentic finance platform" targeting the Global South with stablecoin rails, autonomous financial agents, KYC, and on-chain data analytics. The strategic intent is to combine the existing SOL treasury yield engine with a new B2B/B2C financial services platform aimed at unbanked and frontier-market users. Total assets reached $269.1 million at FY2025 year-end (including $250.1 million in digital assets), and a 15% poison pill was adopted in May 2026 to defend against hostile accumulation. The business model is dual: a Solana staking treasury generating protocol-level yield on a multi-hundred-million-dollar token position, layered with a newly launched (and largely unbuilt) AI-powered financial services platform for emerging markets.
Sharps Technology firmographics
Firmographics- Name
- Sharps Technology
- Legal name
- Sharps Technology, Inc.
- Website
- https://sharpstechnology.com
- Company type
- Public
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Sharps Technology, now SkyAI, Inc. (NASDAQ: SKYA), operates a Solana digital asset treasury of over 2 million SOL generating staking yield, and is repositioning as an agentic AI finance platform for Global South markets using stablecoin rails and on-chain data.
- Ownership category
- akta.pro rank
Sharps Technology industry classification
Industry- Product category
- Digital Asset Treasury Management
- NAICS
- Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Securities and Commodity Exchanges (52321), Portfolio Management and Investment Advice (523940)
- SIC
- Finance Services (6199), Security & Commodity Brokers, Dealers, Exchanges & Services (6200)
- akta.pro primary industry
- Tokenized Real-World Assets & On-Chain Treasuries (tokenized T-bills, money markets, cash management) (FSAPAEAJ)
- akta.pro secondary industries
- Institutional DeFi & On-Chain Liquidity Infrastructure (Permissioned DeFi, Lending) (FSAGAMAG), Yield, Vaults & Asset Management (vault strategies, robo-vaults, structured yield) (FSAPAEAG), Lending Protocol Infrastructure (Oracles, Rate Models, Vaults) (FSADAFAN)
Keywords
Where Sharps Technology is headquartered
LocationHeadquarters
- HQ city
- Melville
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Sharps Technology business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Operations, Personnel, Marketing or Sales, Others
Revenue model
- Solana Staking Income: The company earns staking rewards by holding and staking SOL tokens. Approximately 95% of SOL holdings are staked generating approximately 7% gross annualized yield. Q1 2026 reported $3.1 million in net staking revenue from this stream.
- Medical Device Distribution: Legacy business focused on sale and distribution of medical syringes and pharmaceutical packaging products. Q1 2026 reported $0.2 million in product revenue. This business was being streamlined after pivot to digital asset strategy.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels3 records
Sharps Technology product offering
Product offeringCore offering
Sharps Technology (now SkyAI, Inc.) operates a Solana-based digital asset treasury strategy holding over 2 million SOL tokens, with approximately 95% staked to generate network validation rewards and staking yields. The company is building the SkyAI agentic finance platform that combines stablecoin rails, autonomous AI agents, KYC, and on-chain data to deliver financial services for the Global South's unbanked population. A legacy medical device distribution business (single-use safety syringes and pharmaceutical packaging) continues at reduced scale and is being streamlined.
Product overview
Sharps Technology has transitioned from a medical device company to SkyAI, Inc., operating a Solana-based digital asset treasury strategy alongside its emerging agentic finance platform. The core offering consists of SOL token treasury management generating staking revenue (~$7 million FY2025), while the strategic pivot to SkyAI establishes a new agentic AI platform for Global South financial services. The company maintains approximately 2 million SOL in its treasury and is building programmable money infrastructure combining stablecoin rails with AI-powered financial services for frontier markets.
Differentiator
Problem solved
Functional benefit
Products and services
- Solana Digital Asset Treasury
- SkyAI Agentic Finance Platform
- Single-Use Safety Syringes and Pharmaceutical Packaging
Quantifiable outcome
- 7% gross annualized staking yield on staked SOL holdings
- +1 more outcomes
Companies that use Sharps Technology
Customer profileSegments2 records
Ideal customer profiles3 records
Sharps Technology technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature3 records
Sharps Technology partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered key and core.
- The TiekeyStrategic collaboration for institutional-grade digital asset analytics and infrastructure services. STSS delegates over 2 million SOL tokens to Stakin by The Tie, which operates non-custodial validator infrastructure across more than 40 proof-of-stake networks. STSS management participates in institutional events through 2026-2027.
- BitGo Bank & Trust, National AssociationcoreStrategic partnership for institutional-grade digital asset treasury management. STSS utilizes BitGo's OCC-regulated qualified custody, Solana staking validator services to earn rewards on SOL holdings, and OTC trading services. The partnership consolidates custody, staking, and liquidity execution within a single platform.
- SOL MarketscoreStrategic advisor providing 90-day lock-up agreement preventing sale or disposition of warrants or underlying shares of STSS common stock. Reflects SOL Markets' confidence in Sharps' strategy and near-term catalysts. Company conducting institutional investor-focused non-deal roadshows.
- Coinbase InstitutionalcoreLaunched institutional-grade Solana validator node in partnership with Coinbase Institutional. STSS delegated over 2 million SOL tokens to the Coinbase-operated validator for network validation and security while receiving staking rewards. Positions STSS among the earliest U.S.-listed companies to participate directly in blockchain infrastructure.
- Crypto.comkeyPartnership for institutional-grade custody infrastructure and OTC desk to manage SOL treasury holdings of over 2 million SOL valued at over $400 million. Plans to deploy capital through Crypto.com into Solana-native projects to generate yield while expanding ecosystem liquidity.
- Jupiter ExchangekeyStrategic partnership to utilize Jupiter's staking infrastructure as part of treasury strategy. Collaboration involves staking SOL tokens into Jupiter's validator and liquid staking platform, supporting Solana network validation and security while expanding liquidity and staking yields.
- Solana FoundationkeyNon-binding letter of intent signed to acquire $50 million worth of SOL tokens. Strategic alignment for ecosystem growth through institutional treasury solutions.
Scale indicators7 records
Recent moves8 records
Expansion highlights5 records
Sharps Technology competitors and assessment
Company assessmentBroad incumbents
- BitGo: BitGo is the OCC-regulated qualified custodian and staking infrastructure provider that Sharps/SkyAI partners with for institutional-grade SOL custody and validator services. It is both a partner and a comparable institutional crypto financial services firm.
- Coinbase Global (COIN): Coinbase provides the institutional custody, validator infrastructure, and OTC trading services that Sharps/SkyAI relies on for its treasury operations. It is a key infrastructure partner and a broader incumbent in institutional crypto services.
- MicroStrategy (MSTR): MicroStrategy pioneered the public-company digital asset treasury model with Bitcoin, establishing the playbook that Solana treasury companies like Sharps/SkyAI now emulate. It is a comparable template, though operating at vastly larger scale in BTC rather than SOL.
- Galaxy Digital (GLXY): Galaxy Digital is a publicly traded crypto financial services firm offering trading, asset management, staking, and validator services. It is a broader incumbent in institutional digital asset management and comparable in service mix to SkyAI's emerging platform ambitions.
Direct peers
- Upexi (UPXI): Upexi is a publicly traded Solana treasury company that holds and stakes SOL tokens on its balance sheet. It is the most direct competitor to Sharps/SkyAI, operating a near-identical model of SOL accumulation via crypto-native capital raises and partnership-based staking infrastructure.
- Forward Industries (FORD): Forward Industries pivoted from legacy manufacturing to a Solana treasury strategy with major institutional backing. It is a direct peer pursuing the same playbook of public-company SOL accumulation and staking-driven yield generation.
- Sol Strategies (CYFRF / HODL): Sol Strategies is a publicly traded Solana-focused investment and infrastructure company operating validator nodes and holding SOL on its balance sheet. It competes directly with Sharps/SkyAI in both treasury accumulation and validator operations.
- DeFi Development Corp (DFDV): DeFi Development Corp is a public Solana treasury company pursuing an aggressive SOL accumulation strategy with validator participation. It competes directly with Sharps/SkyAI for institutional capital, staking yields, and Solana ecosystem partnerships.
Emerging players
- Exodus Movement (EXOD): Exodus is a publicly traded crypto wallet and exchange platform with self-custody and staking offerings. It overlaps with SkyAI's emerging retail-facing crypto financial services ambitions and operates a similar public-company crypto infrastructure model.
Others
- Block Inc. (XYZ): Block is a fintech holding company with Bitcoin holdings, Cash App, and TBD-style infrastructure ambitions intersecting stablecoins and AI. It is thematically relevant to SkyAI's agentic finance and stablecoin rails strategy, though not directly competitive.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Sharps Technology social profiles
Digital presenceSharps Technology financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sharps Technology leadership team
Management profileNumber of profiles
Profiles4 records
Sharps Technology funding detail
Funding detailFunding overview
Funding rounds6 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sharps Technology M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Sharps Technology
What does Sharps Technology do?
Sharps Technology (now SkyAI, Inc.) operates a Solana-based digital asset treasury strategy holding over 2 million SOL tokens, with approximately 95% staked to generate network validation rewards and staking yields. The company is building the SkyAI agentic finance platform that combines stablecoin rails, autonomous AI agents, KYC, and on-chain data to deliver financial services for the Global South's unbanked population. A legacy medical device distribution business (single-use safety syringes and pharmaceutical packaging) continues at reduced scale and is being streamlined.
Is Sharps Technology a public or private company?
Sharps Technology is a public company. It is classified as public and is currently operating.
When was Sharps Technology founded?
Sharps Technology was founded in 2017. It employs 51 to 100 people.
Where is Sharps Technology based?
Sharps Technology is headquartered in Melville, United States, in the North America region.
How does Sharps Technology make money?
Two revenue lines are on record. Solana Staking Income is the primary driver. The others are medical Device Distribution.
Who are Sharps Technology's main competitors?
Broad incumbents on record are BitGo, Coinbase Global (COIN), MicroStrategy (MSTR) and Galaxy Digital (GLXY). Direct peers are Upexi (UPXI), Forward Industries (FORD), Sol Strategies (CYFRF / HODL) and DeFi Development Corp (DFDV). Exodus Movement (EXOD) is listed as an emerging player. Block Inc. (XYZ) is listed as an others.
Does Sharps Technology have an API?
No public API is recorded for Sharps Technology.
What industry is Sharps Technology in?
Sharps Technology's product category is Digital Asset Treasury Management. Its primary akta.pro industry code is FSAPAEAJ, Tokenized Real-World Assets & On-Chain Treasuries (tokenized T-bills, money markets, cash management), with a secondary code of FSAGAMAG, Institutional DeFi & On-Chain Liquidity Infrastructure (Permissioned DeFi, Lending). Its NAICS code is 523 and its SIC code is 6199.