Enterprise Blockchain Startup Stratis Deepens Its Relationship with Tech Giant Microsoft

Stratis (STRAT), which is an enterprise-focused blockchain, has become a certified Microsoft partner, solidifying its relationship with the tech leader. As a result of the deal, Stratis gains access to Microsoft’s “marketing and development resources” that are reserved for certified partners.

STRAT, which has a market cap of $171 million, advanced by double digits in response to the development. The coin is currently up almost 12% to $1.73 on volume of nearly $19 million. Most of today’s trading is unfolding in the STRAT/BTC trading pair on Binance and Bittrex. Over the past week, STRAT has added 27% to its value while the broader crypto market has mostly been trading sideways.

Source: TradingView

In a bull market, STRAT has fared much better and was trading as high as $21 in January 2018, suggesting that when the next market rally unfolds, which market strategists are predicting to occur between now and Q1 2019, Stratis could have plenty of room to run.

Greater Exposure

Stratis had an existing relationship with Microsoft, as it uses the .net framework that was created by the tech company. But the new partnership will provide tremendous exposure for the Stratis brand, cryptocurrencies and its C# blockchain, placing the brand and technology front and center before enterprise customers. Stratis will gain “access to 120,000 enterprise customers and 800,000 ecosystem partners in 190 countries,” according to the announcement. Chris Trew, founder and CEO of Stratis, said in a statement:

“This partnership gets me very excited indeed. I am looking forward to working with Microsoft’s Go-To-Market Team and further leveraging the Azure technology stack with the Stratis Platform.”

Today’s gains in the STRAT price are a signal of the support by the cryptocurrency community for major partnerships, including those in the traditional tech space. Recently Tron Foundation Founder Justin Sun came under fire for the way that a partnership was promoted with China’s internet giant Baidu. Sun said that Tron would be partnering with an “industry giant” whose valuation is in the tens of billions USD, only for the crypto community to learn that Tron will be using Baidu’s cloud solutions, which was a bit anticlimatic.

Gluon, which is an IoT startup with a focus on the auto sector that had its ICO on the Stratis blockchain, just announced a partnership with LG Electronics in yet another sign of traditional tech linking up with blockchain companies. Similar partnerships are sure to pop us as developer talent for decentralized systems is most heavily concentrated in the blockchain space.

Featured image courtesy of Shutterstock.

Gerelyn has been covering ICOs and the cryptocurrency market since mid-2017. She's also reported on fintech more broadly in addition to asset management, having previously specialized in institutional investing. She owns some BTC and ETH.