Sharps Technology

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.

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

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

• Digital asset treasury
• Agentic finance platform
• Solana staking services
• Stablecoin payment rails
• Medical device distribution

Headquarters

HQ city

Melville

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Others

Revenue model

1. 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.
2. 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

Core 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

Segments2 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature3 records

Partnerships

Seven partnerships are on record, tiered key and core.

• The TiekeyTechnology or Integration · 25 February 2026Strategic 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 AssociationcoreTechnology or Integration · 5 February 2026Strategic 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 or Co-development Partner · 16 January 2026Strategic 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 InstitutionalcoreTechnology or Integration · 12 January 2026Launched 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.comkeyTechnology or Integration · 29 September 2025Partnership 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 ExchangekeyTechnology or Integration · 23 September 2025Strategic 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 FoundationkeyStrategic or Co-development Partner · 25 August 2025Non-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

Broad 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

• Xx.com/SharpsSyringe
• Facebookfacebook.com/sharpstechnology
• LinkedInlinkedin.com/company/sharpstechnologyinc

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds6 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sharps Technology