Polygon Labs, the development team behind the Ethereum scaling solution Polygon, announced on Thursday a strategic partnership with Indian telecommunications and technology company Jio Platforms to launch its Web3 and blockchain services in India.
Through this collaboration, Jio Platforms plans to leverage Polygon’s technology to add Web3 functionality to its existing applications and services, thereby creating innovative Web3 services for Jio’s over 450 million users.
Jio Platforms is a subsidiary of Indian energy giant Reliance Industries Limited, led by Asian billionaire Mukesh Ambani and his family. In August 2023, Ambani announced Reliance Group’s entry into the blockchain and central bank digital currency (CBDC) space, with its financial services entity Jio Financial Services (JFS) venturing into the financial sector.
Sandeep Nailwal, co-founder of Polygon, expressed excitement about this partnership and stated that it is an important step forward for Web3 adoption in India. He said, “We look forward to working with Jio to introduce Web3 to millions of customers.”
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