India: BlackRock, Jio to Launch Digital Asset Venture

Global asset manager Blackrock is venturing into India, with a joint venture to be called Jio BlackRock. Returning a noteworthy record despite turbulence in the market, India’s asset management space is worth US$865 billion and predicted to grow 14% annually. With Indians now welcoming technology-driven services, BlackRock looks ideal for the job.
Rachel Lord, Chair and Head of BlackRock Asia Pacific, explains, “we must meet India at its current advancements and usage to offer ‘financial well-being’ to its residents”. Quelling speculation of a entering the crypto world, Hitesh Sethia, Presddenet & CEO of Jio Financial Services, contextualises that BlackRock’s expertise in investments, and technology, combines admirably with Jio for managing risk and digital transformation.
Pending official approvals, the project will have over $300 million inside venture and an exclusive management team. Interest and currents of the crypto space are percolating around the news too, although no specifics are currently available.
Robert Wilson author
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