Stratis Protocol Secures Alphabit’s Digital Currency Fund

| Updated
by Benjamin Godfrey · 3 min read
Stratis Protocol Secures Alphabit’s Digital Currency Fund
Photo: Stratisplatform / Twitter

Besides Alphabit, Stratis also boasts of partnership with Microsoft Corporation (NASDAQ: MSFT), Binance, Changelly, and Azure amongst others

The Stratis protocol, a blockchain as a Service (BaaS) provider to Business to Business (B2B), has secured funding from Alphabit’s digital currency fund. Per a press release shared with Coinspeaker, Alphabit’s backing of the Stratis Protocol did not state in clear terms the amount invested but the former firm is allegedly committed to further funding of the Stratis Protocol over the next 24 months.

Financial backing for projects in the blockchain and cryptocurrency ecosystem is undisputedly one of the major factors that push projects to scale. The availability of funding from partners can help a business perfect its model to provide better value amidst growing competition, the backing Alphabit digital currency fund will be providing to the Stratis Protocol will empower the latter firm to develop ever-better solutions for the b2b market. Coupled with their C# support, Stratis’ solutions will increase the onboarding of blockchain solutions in the global market.

“Stratis Protocol, after analysis, fits neatly into our investment thesis and we believe the potential for growth for Stratis to be exponential. We are delighted to welcome Stratis into our portfolio and look forward to supporting them over the coming months and years,” said Liam Robertson, the Chief Executive Officer of Alphabit.

Stratis protocol attracted the interest of Alphabit due to its cutting edge BaaS provisions by allowing companies access to the Stratis blockchain via its proprietary C# programming language. Amongst the provisions of the Stratis blockchain is to let businesses have access to smart contracts, multiple sidechains, and to operate a full-scale Initial Coin Offering (ICO) platform.

With the aim of Stratis blockchain to entrench its solutions in the global market, the support from Alphabit will help to accelerate the company’s business timeline to launch full-scale.

Stratis Protocol and Product Offerings

The Stratis Protocol has key product and service offerings ranging from identity management to the operation of Smart Contracts. In retrospect, Stratis technologies help businesses by providing decentralized Know Your Customer (KYC) and Anti-Money Laundering (AML) check to make it easier to verify client identities and comply with regulations.

Stratis Protocol also provides a turnkey solution for supply chain management, providing full visibility in a trustless and decentralized environment while also allowing access to a user-friendly Securities Token Offering (STO) platform for firms looking to offer STOs. The protocol’s C# programming language also allows the integration of Decentralized Finance (DeFi) capabilities through the deployment of Smart Contracts.

On the impact of the new funding boost, Stratis CEO Chris Trew said:

“We are thrilled to partner with Alphabit, one of the world’s first regulated digital asset investment funds. Alphabits initial injection, in conjunction with their further investment commitment, will unquestionably assist in accelerating the adoption of Stratis Technologies, while cementing Stratis as the go-to platform for Microsoft .NET Blockchain development.”

Besides Alphabit, Stratis also boasts of partnership with Microsoft Corporation (NASDAQ: MSFT), Binance, Changelly, and Azure amongst others.

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Benjamin Godfrey

Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.

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