Jio Platforms collaborates with Polygon Labs to bring blockchain solutions, empowering millions of users with advanced Web3 capabilities.
Jio Platforms Ltd (JPL), a top tech company owned by Mukesh Ambani, has teamed up with Polygon Labs to use Polygon’s blockchain technology. The goal is to add Web3 features to Jio’s apps and services, giving new solutions to over 450 million Jio customers.
JPL is collaborating with Polygon to support its entry into Web3 and blockchain in India. The CEO of JPL, Kiran Thomas, views the partnership with Polygon as a significant step in advancing Jio’s digital capabilities. He expressed enthusiasm about using Web3 technology to create new and exceptional digital experiences for Jio’s users. Thomas stated:
“Joining forces with Polygon Labs marks a significant milestone in Jio’s journey towards digital excellence. We are excited to explore the boundless possibilities of Web3 and bring unparalleled digital experiences to our users.”
Polygon’s founder Sandeep Nailwal described the collaboration as a major step forward for Web3 adoption in India. He added that they anticipate working with Jio to bring Web3 technology to millions of its customers.
“Web3This is a significant step forward for Web3 adoption in India. We look forward to working with Jio as they introduce Web3 to their millions of customers,” he explained.
Sandeep Nailwal told Cointelegraph that Web3 can make online experiences better by cutting out slow and expensive middlemen. He said the partnership will help Jio’s users enjoy better privacy, control over their data, and new services without needing to know how the technology works.
The partnership is expected to transform how Jio users interact with digital platforms, offering them more control, security, and opportunities in the online space.
The announcement has led to significant praise for the Polygon team, with some users calling the partnership monumental, while others viewed it as a bullish indicator. A commentator on X referred to the partnership as “cool” and called for more institutions to follow suit.
Polymarket and Stablecoins Drive Web3 Growth on Polygon PoS
Polygon recently shared a report stating that 2024 was a breakout year for web3, with projects on the Polygon Proof-of-Stake (PoS) network leading the charge. The blockchain company said that Polygon PoS had several standout moments last year, including the success of Polymarket, which helped bring Web3 into the mainstream.
Polymarket became a leading prediction market platform, with 26.2 million transactions and $8.8 billion in volume by the end of the year. This growth saw both political analysts and everyday users relying on the platform to predict future events.
Additionally, the integration of stablecoins and payments on Polygon PoS played a major role in real-world adoption. By the end of 2024, the volume of stablecoins on Polygon PoS surpassed that of major chains like Ethereum, Arbitrum, and Base.
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