Jio Platforms, a subsidiary of Indian energy giant Reliance Industries, has teamed up with Polygon Labs to launch its Web3 and blockchain services in India. This collaboration will introduce cutting-edge Web3 capabilities to over 450 million users. Explore the potential of this promising partnership.
Written by Grings - Last updated on 01/16/2025 at 16:10 by Grings
Exciting news in the world of Web3 as Jio, one of India’s largest telecommunications operators, has announced a strategic partnership with Polygon Labs. Jio Platforms, a subsidiary of the Indian energy giant Reliance Industries, led by billionaire Mukesh Ambani.
Together, they will explore the endless possibilities of Web3 and provide “exceptional digital experiences” to over 450 million Indian users, as explained by Kiran Thomas, CEO of Jio Platforms.
It’s worth noting that Mukesh Ambani’s son, Akash, expressed admiration for blockchain technology over 8 years ago:
“Beyond the cryptocurrency blockchain at its core, it provides an open-source platform enabling secure transactions with a distributed ledger system,” Akash stated during a public appearance.
This statement followed the announcement of JioCoin, the native token for the Jio telecommunications ecosystem. To date, no information about this token has been revealed for several years. Their X account has not tweeted since 2018. Perhaps this partnership with one of Ethereum’s largest L2s could reignite the project.
On the other hand, Sandeep Nailwal, co-founder of Polygon, expressed enthusiasm for this partnership with an Indian company. “We are excited to collaborate with Jio as they introduce Web3 to millions of customers,” he adds.
Mukesh Ambani, Asia’s richest man, has made Reliance Industries a pioneer in technological innovation by providing 4G and Internet to hundreds of millions of Indians.
The Polygon community has welcomed the news enthusiastically, as Jio has the power to drive significant adoption. The POL token, formerly known as MATIC, has risen by over 5% since the announcement.
According to Marc, co-founder of Polygon, “it’s like saying Google will use Polygon PoS for certain applications and services.” “It’s not just some boring use case. It’s one of the most popular cryptocurrency use cases coming alive in this giant,” he concludes.
Through this partnership, Jio users will benefit from Web3 innovations within the platform’s app and service ecosystem. With over 450 million users, Jio reaches nearly a third of the Indian population.
This collaboration can not only accelerate blockchain adoption in India but also demonstrates its potential for innovations and enhancing Web2 products.
Mukesh Ambani and Reliance Industries are respected names in India, instilling confidence in this new technology. The trust placed in Polygon is excellent news for unlocking new opportunities offered by Web3.
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Graduated in Finance, Hugo, also known as 'Grings', is passionate about the cryptocurrency market and the opportunities offered by blockchain technology. Thanks to his technical background and informative approach, he is capable of writing simple articles on complex subjects.
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