Polygon partners with Reliance Jio to bring blockchain capabilities to 450m Indians

Polygon Labs has partnered with India’s largest telecom operator, Reliance Jio, to integrate blockchain into the company’s existing infrastructure.

Jio, which is a subsidiary of Reliance Industries, services roughly 450 million Indians and plans to leverage Polygon’s technology stack to enhance its existing applications and services with blockchain and Web3 capabilities, according to a Jan. 15 announcement.

While details about the exact nature of the Web3 products expected to be launched as a part of the collaboration were not disclosed, Jio Platforms Ltd CEO Kiran Thomas said the move would allow the company to “explore the boundless possibilities of Web3 and bring unparalleled digital experiences” for its users.

In comments to local media, Aishwary Gupta, global head of Payments at Polygon Labs, added that the partnership would enable Jio to build applications on Polygon’s blockchain infrastructure, allowing Jio users to interact seamlessly with Web3 technology without being exposed to its complexities.

Polygon CEO Marc Boiron highlighted the significance of the partnership in a Jan. 16 X post, noting that it was already live on Polygon’s proof of stake network. See below.

The development has resonated well within the Polygon community, with many viewing it as an opportunity to drive large-scale adoption for the blockchain network. POL, the blockchain’s native token, was up over 5% on the day when writing.

Reliance Industries, led by Asia’s richest person, Mukesh Ambani, has been at the forefront of technological innovation in India, spearheading initiatives that have redefined industries, including leading the country’s 4G revolution to make high-speed internet widely accessible.

The corporate behemoth’s interest in blockchain technology stretches back several years. Notably, Reliance previously made investments in Vakt Holdings Limited, a U.K.-based distributed ledger technology firm, to digitize its energy trading processes.

Meanwhile, Akash Ambani, Mukesh Ambani’s eldest son, has publicly endorsed blockchain and cryptocurrencies and was reportedly linked to JioCoin, the telecom giant’s rumored digital currency initiative.