Stratis, the leading Blockchain as a Service (BaaS) platform that makes it easier for businesses of all sizes to adopt DLT has announced a significant development that could potentially make it a formidable force in the enterprise blockchain solutions sector. The platform has received an initial investment along with a commitment for further investments of at least a few million over the next two years from Alphabit –a digital asset investment fund.
The Stratis Platform is known for its ability to provide blockchain solutions that can work seamlessly with the existing IT infrastructure. It achieves this unique feat by making use of the widely used C# programming language to develop blockchain features including smart contracts, multiple sidechains, and even a full-scale ICO platform.
Announcing the news, Stratis CEO Chris Trew said, “We are thrilled to partner with Alphabit, one of the world’s first regulated digital asset investment funds. Alphabit’s 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. “
With over a billion dollars’ worth of assets under management, Alphabit has a keen interest in blockchain projects that deliver turn-key solutions. Identifying such projects, the fund not only invests in them but also assists them with end-to-end partnerships and more for sustained growth and expansion. The entry of Alphabit and its digital asset investment fund will enable Stratis to rapidly scale its offerings, allowing mainstream organizations to use blockchain in their day-to-day operations.
In a statement, the CEO of Alphabit Liam Robertson said, “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.”
Some of the products offered by Stratis Protocol include Stratis Identity — A decentralized KYC and AML check solution, Supply Trust – a turnkey solution for transparent and trustless supply chain management, a fully compliant STO Platform for issuing digital securities through token offering, and Stratis Smart Contracts developed in the industry-standard Microsoft C# language.
Alphabit’s initial investment as well as the prolonged commitment to provide additional funds over a period of two years indicates the potential of Stratis to add infinite value to its B2B blockchain solutions. As more companies explore the possibility of implementing decentralized technologies into their operations, Microsoft.NET and C# based blockchain solutions will fit right into their already existing infrastructure and Stratis will make the whole process a lot easier
Payments-focused cryptocurrency XRP jumped to over two-month highs on Monday.
The move more than reversed the late-December price slide triggered by legal troubles at the San Francisco-based payment protocol developer Ripple Labs, which has close ties to the digital asset.
XRP rose to a high of $0.6836 during the European trading hours, its highest level since Nov. 25, extending the weekend’s rally from $0.27 to $0.50, according to CoinDesk 20 data. As a result, the cryptocurrency has replaced tether stablecoin as the third-largest cryptocurrency by market value.
XRP prices fell from $0.55 to $0.20, after the U.S. Securities and Exchange Commission announced a lawsuit against Ripple Labs on Dec. 22, triggering a number of exchange delistings of the cryptocurrency. The regulator charged the company for violating securities laws by raising $1.3 billion over seven years from retail investors through its sales of XRP.
Ripple Labs pushed back against the SEC’s allegations on Friday, arguing that the functionality and liquidity of XRP are wholly incompatible with securities regulation, and its registration as security would impair its main utility in faster, cheaper and more transparent global payments.
The cryptocurrency picked up a strong bid on Saturday, rising 56% to register its biggest single-day gain in three years, and has remained on the offensive ever since.
A coordinated effort by the members of the two-day-old Telegram group called “Buy & Hold XRP” alongside calls to buy XRP by the r/SatoshiStreetBets group seems to have helped push the cryptocurrency to multi-month highs. At press time, the Telegram pump group had 200,000 members.
However, some observers are of the opinion that the Telegram traders may not be the sole drivers of the price rise. “24H volume on XRP on Sunday was over $26 billion. Even if each of the groups’ members dropped $5,000 on XRP, that equates to 2% of total daily volume. Let’s be rational here – no Telegram group is pumping the 5th largest coin in the space,” popular Twitter-based analyst Credible Crypto tweeted Sunday.
The cryptocurrency is trading near $0.66 at press time, representing a nearly 30% gain on the day.
“XRP’s next target is $0.80, which, if breached, would allow a rally to $1 and higher,” Alex Melikhov, CEO and founder of cryptocurrency framework Equilibrium and the EOSDT stablecoin, told CoinDesk.
As Melikhov said, there are no resistance levels between $0.80 and $1.00. A convincing move above the one-dollar mark would shift the focus to record highs above $3.00 reached in December 2017