Azure Archive Storage is now generally available. Archive storage will provide a cold storage option for customers interested in lowering their storage costs for long term data that's rarely accessed. Archive Storage will exist alongside the hot and cool storage tiers and will provide 256-bit at rest AES encryption by default. Archive Storage will be able to be accessed through the Azure portal, PowerShell, and Azure CLI tools, as well as REST APIs, .NET, Java, Python, or Node.js client libraries. We’re also releasing blob-level tiering, which will allow a user to easily move blobs between hot, cool, and archive storage tiers at the object level. Archive Storage will be available in 14 regions and will be supported by a broad and diverse set of storage partners.
Source: Azure Roadmap