Share this article
Indian Telecom Giant Jio Joins Hands With Polygon to Bring Web3 to Over 450M Users
Polygon's CEO hailed the partnership as a significant step forward for Web3 adoption in India.
Jan 16, 2025, 3:30 a.m.
What to know:
- Jio partners with Polygon Labs to enrich the digital experience of its user base.
- The partnership is a significant step forward for Web3 adoption in India.
Indian telecom and technology company Jio Platforms (JPL) is taking significant steps to enhance the digital experience for its more than 450 million users.
Jio Platforms is a wholly-owned subsidiary of energy giant Reliance Industries. Reliance is led by one of Asia's richest man, Mukesh Ambani, and his family.
STORY CONTINUES BELOW
Jio has partnered with with Polygon Labs, the development team behind Polygon Protocols, to launch its Web3 and blockchain services in India, the company said on Thursday.
This collaboration will leverage Polygon's advanced blockchain technology to add innovative Web3 capabilities to some of Jio Platform's existing applications and services.
Kiran Thomas, CEO of JPL, stated, "Partnering with Polygon Labs is a major milestone for Jio as we strive for digital excellence. We are excited to explore the limitless opportunities of Web3 and deliver exceptional digital experiences to our users."
Polygon's co-founder, Sandeep Nailwal, expressed enthusiasm about the partnership, saying, "This is a significant step forward for Web3 adoption in India. We look forward to collaborating with Jio as they introduce Web3 to millions of customers."
Web3 is the next generation of internet based on decentralized technologies, like blockchain, that empower users with more over their data and online interactions.
More For You
Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
알아야 할 것:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
More For You
Top Stories
