Alphabit Partners With BaaS Provider Stratis Promises 2-year Funding to Expand its Operation
Alphabit, the world’s first fully regulated digital asset investment fund has invested an undisclosed amount in BasS company Stratis and has even committed another 7-figure investment over the next two years to help them build and expand the BaaS ecosystem.
Alphabit CEO Liam Robertson said that Stratis checked all the boxes for a great company to invest in and hopefully the partnership would help in the growth of the ecosystem. He 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.
The popularity and demand for blockchain technology especially at the enterprise level have led to the creation of several blockchains as a service provider companies and startups that offer their blockchain expertise and deploy blockchain-based systems for different enterprises. These services have shot up in demand in the recent past as building a blockchain system from scratch is both expensive and time-consuming, thus deploying an already built system helps these enterprises into a smooth transition and saves a lot of time.
BaaS Could Accelerate Blockchain Adoption
Over the years governments and enterprises have realized that decentralized tech or blockchain is one of the most secure and transparent ways of record-keeping and thus more enterprises are jumping onto the blockchain bandwagon. However, discarding the age-old system and building a new one is not as easy as it seems, and thus BaaS companies come to the rescue. These companies have expertise in developing blockchain systems that could either be easily deployed and programmed to the need of the company or can be integrated into the existing system thus saving time and labour for the enterprises.
Stratis currently a range of enterprise-grade blockchain solutions that include decentralized KYC and AML verification, supply chain management, and smart contracts.
Stratis CEO Chris Trew believes their partnership with Alphabit would help them expand the scope of their business and also develop a new solution. He said,
“We are thrilled to partner with Alphabit, one of the world’’s first regulated digital asset investment funds. Alphabet’s initial 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”