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BlackRock Looks to India in Jio Partnership for Digital Asset Services

On July 26, India’s Jio Financial Services (JFS) and American asset management giant BlackRock announced a joint venture to launch digital asset management services in the world’s second most populated nation. Jio Financial Services comes under the umbrella of billionaire Mukesh Ambani’s Reliance Group. The pair target an initial investment of $150 million each, according to the Jio press release. According to a July 26 Financial Times report, BlackRock aims to launch a “digital-first asset manager” aimed at serving India’s growing investor population, while crypto assets were not specifically mentioned in the partnership announcement.

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