Reliance Industries’ Jio Platforms (JPL) has signed a strategic partnership with Polygon Labs to bring Web3 capabilities to some of its existing applications.
The developer arm of Polygon Protocol will work with Jio to create Web3 services using its blockchain solutions for over 450 million Jio customers.
“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,” said Kiran Thomas, CEO, JPL.
The announcement comes almost two years after Reliance Chairman and Managing Director, Mukesh Ambani, expressed interest in exploring blockchain solutions.
Founded in 2017, Polygon focuses on developing Web3 application development and operates using the Ethereum blockchain and connects Ethereum-based projects.
The company most recently collaborated with blockchain solutions provider Chaincode Consulting and the Indian Railway Catering and Tourism Corporation to provide non-fungible tokens to devotees at the Mahakumbh 2025.
NFTs are one-of-a-kind digital assets that are stored on a blockchain with unique identifying information that sets them apart, unlike interchangeable and identical assets like cryptocurrencies. These often include digital artwork, collectibles, and even virtual real estate.
India, in the past few years, has seen an uptick in Web3 adoption. In 2024, there were over 1,000 startups emerging in the space, as per a report by Web3 venture capital firm Hashed Emergent.
Additionally, the Indian government has also taken steps to adopt aspects of Web3 technology, including blockchain solutions.
In September, the government launched the Vishvasya-Blockchain Technology Stack which provides Blockchain-as-a-Service (BaaS) to government departments. It allows departments to build, host, and use their own blockchain apps, smart contracts, and functions.
