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JioCoin launch: Jio’s latest step into crypto with Polygon partnership

Economic Times

Economic Times · 1y ago

JioCoin launch: Jio’s latest step into crypto with Polygon partnership

Jio Platforms has launched JioCoin, a reward token on the Polygon blockchain, marking Reliance Industries' entry into virtual currency. Without revealing its full utility, JioCoin aims to revolutionize digital transactions in India. The initiative came after Jio's partnership with Polygon Labs, enhancing blockchain and Web3 capabilities. Positioned as a utility token, JioCoin supports Jio’s digital services but faces criticism regarding transparency and legitimacy, similar to the Basic Attention Token used by the Brave browser.

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Polygon co-founder Jaynti Kanani quits

Money Control

Money Control · 2y ago

Polygon co-founder Jaynti Kanani quits

Jaynti Kanani, co-founder of Polygon, has decided to step down from the layer 2 blockchain startup in order to focus on two new ventures he founded in 2023. This comes after Polygon recently underwent executive reshuffling, with Marc Boiron taking over as the new CEO. Kanani expressed his confidence in Polygon's future and stated that he will still contribute and support the project. Kanani, along with Sandeep Nailwal and Anurag Arjun, founded Polygon in 2017 and played a significant role in its growth within the blockchain and crypto community.

Polygon’s Global Head of Payments on the mega Reliance deal and more

Economic Times

Economic Times · 11m ago

Polygon’s Global Head of Payments on the mega Reliance deal and more

Reliance Industries has ventured into the Web3 and blockchain space through a partnership between Jio Platforms and Polygon Labs. This collaboration aims to enhance Web3 adoption in India by integrating blockchain technology with Jio’s extensive user base. It is expected to transform customer loyalty, ticketing, and finance sectors while potentially revolutionizing traditional loyalty programs. Aishwary Gupta from Polygon discusses the partnership's potential to scale Web3 in a conversation with host Anirban Chowdhury.

Is Polygon, Once Feted as India's Only Crypto Decacorn, Receding into Oblivion?

OutlookIndia

OutlookIndia · 10m ago

Is Polygon, Once Feted as India's Only Crypto Decacorn, Receding into Oblivion?

Polygon Labs, once valued at $20 billion during the 2021 crypto boom, has seen its market cap plummet nearly 75% to $2.53 billion by 2025. The decline is attributed to broader crypto market volatility and liquidity fragmentation due to meme coins. Despite challenges, Polygon remains a leader in Ethereum scaling solutions and aims for a comeback by focusing on developer ecosystems and collaborating with companies like Reliance Jio. However, concerns about its long-term relevance persist.

Mudrex Launches Saber.Money to Offer Onramp & Offramp Services in India

Startup News FYI

Startup News FYI · 2y ago

Mudrex Launches Saber.Money to Offer Onramp & Offramp Services in India

Mudrex, a crypto investment platform backed by Y-Combinator, has announced the launch of Saber.Money in India. Saber.Money provides on-ramp and off-ramp services for B2B clients, offering easy integration and competitive conversion rates for fiat-to-crypto transactions. Mudrex has attracted early clients such as Flipkart, IndiGG, and Polygon, among others, demonstrating confidence in their services. The company has obtained explicit certification in Italy and maintains compliance with regulatory standards. Mudrex aims to expand Saber.Money's reach globally in response to the increasing demand for cryptocurrency services.

Polygon targets stablecoin payments with deals worth $250 million - The Economic Times

Economic Times

Economic Times · 9d ago

Polygon targets stablecoin payments with deals worth $250 million - The Economic Times

Polygon Labs is acquiring crypto payments firm Coinme and infrastructure provider Sequence for over $250 million to capitalize on the increasing demand for stablecoin transactions. The purchases aim to consolidate fragmented infrastructure and position Polygon as a key player in the stablecoin payment market, targeting initially business-to-business payments, with a shift to consumer services planned. The move is set against the competitive backdrop featuring industry giants like Visa and Mastercard.

Polygon to power Flipkart’s Web3 loyalty platform FireDrops to boost user engagement

Inc42 · 2y ago

Polygon to power Flipkart’s Web3 loyalty platform FireDrops to boost user engagement

Ecommerce giant Flipkart has announced a partnership with blockchain scaling startup Polygon to deploy its chain development kit (CDK) for scaling its FireDrops Web3 loyalty program. The partnership aims to build an Ethereum-based zero-knowledge (ZK) layer-2 network to enhance scalability and streamline services. Flipkart will leverage Polygon CDK to offer a seamless onboarding experience, dedicated blockspace, and low transaction fees to its users. The collaboration also aims to promote Web3 adoption, user engagement, and loyalty programs in the Indian ecommerce space.

Coinbase Ventures backed CoinDCX set to invest in crypto taxation firm KoinX

Inc42 · 2y ago

Coinbase Ventures backed CoinDCX set to invest in crypto taxation firm KoinX

Crypto exchange CoinDCX, backed by Coinbase Ventures, has formed a strategic partnership and made an investment in crypto taxation platform KoinX. CoinDCX plans to enhance the user experience and security of crypto trading with this collaboration. The partnership will also enable KoinX to tap into CoinDCX's community of over 1.4 crore users and increase its visibility. This development follows Apple's delisting of offshore crypto exchanges like Binance, Kucoin, and OKX from its India app store. The heavy taxation regime and compliance mandates have adversely affected the Indian crypto industry.

Wayve and Uber plan London robotaxi launch after UK speeds up autonomous vehicle rollout | TechCrunch

TechCrunch · 7m ago

Wayve and Uber plan London robotaxi launch after UK speeds up autonomous vehicle rollout | TechCrunch

Wayve and Uber are collaborating to launch a driverless robotaxi service in London, following the UK government's expedited framework for autonomous vehicle pilots, now set for spring 2026. The partnership involves integrating Wayve's AI into vehicles, initially focusing on London before expanding. Each company must demonstrate safety to regulators, with Wayve ensuring system safety and Uber handling passenger service. This initiative marks a significant step in UK autonomy, with plans for global expansion.

Morgan Stanley files for bitcoin, Solana ETFs in digital assets push

Economic Times

Economic Times · 16d ago

Morgan Stanley files for bitcoin, Solana ETFs in digital assets push

Morgan Stanley has applied for regulatory approval to introduce exchange-traded funds (ETFs) associated with cryptocurrencies such as Bitcoin and Solana, marking a significant step by a major U.S. bank into the digital assets sector. This move aligns with U.S. banks expanding roles from custodians to active advisers in crypto investments, following the SEC approval for spot Bitcoin ETFs. ETFs offer investors enhanced liquidity, security, and regulatory compliance compared to direct crypto investments.

Blockchain For Impact earmarks $200M for healthcare startups and biomedical research

YourStory

YourStory · 10m ago

Blockchain For Impact earmarks $200M for healthcare startups and biomedical research

Philanthropic organisation Blockchain For Impact (BFI), founded by Polygon Co-founder Sandeep Nailwal, has allocated $200 million for healthcare startups and biomedical research. Originally a 2021 initiative by Nailwal called the Crypto Relief Fund, BFI has invested over $90 million in healthcare and climate resilience. Notably, it launched the BFI-BIOME Virtual Network Program to fund 46 startups and partner with medical colleges. BFI leverages blockchain for efficient fund allocation and innovation support in medicine and climate action.

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