BlackRock and Jio Collaborate on Digital Asset Venture

BlackRock is relentlessly expanding its global presence by partnering with Jio Financial Services of India to launch a joint venture. Both BlackRock and Jio will initially invest $150 million into the new platform. This funding basically aims to provide investment services in India.

As reported by the Financial Times on July 26, BlackRock aims to capitalize on the increasing demand for digital assets in India. In this market segment, BlackRock stands out with its ambitious plans, including the recent filing for approval of a spot Bitcoin ETF. This sets it apart from most other asset managers. 

BlackRock and Jio Join Forces to Reshape the Future of India

Mukesh Ambani, the tycoon & multibillionaire, is the owner of Jio. According to the FT report, the company might have been searching for a new partner after separating from another Ambani venture, Reliance Industries Conglomerate.

Regardless of Jio’s intentions, this move is undoubtedly impressive. Furthermore, the move also aligns with BlackRock’s broader strategy of significant growth across Asia and globally. 

BlackRock Join Hands With Jio

Recently, BlackRock disclosed that it has appointed key individuals to lead its expansion efforts in China and Singapore. Mandy Lui has taken on the role of head of Greater China Wealth, overseeing operations in Hong Kong, Taiwan, and mainland China. Dennis Quag has been appointed as head of Singapore Wealth. These appointments contribute to BlackRock’s already dominant global presence, with active operations in 36 countries and continuing to grow.

Is BlackRock Wholeheartedly Committed to Responsible Investing?

Recently, BlackRock made an announcement that Amin Nasser, a prominent Saudi oil executive, has joined its board of directors. As the head of Saudi Aramco, Nasser held significant influence in an industry that many believe has had a devastating impact on the world’s natural environment. 

BlackRock & Saudi Aramco

Consequently, several journals and websites criticized his appointment to the board of a company whose CEO, Larry Fink, is purportedly a champion of socially conscious investing. A headline in Business Insider summarized the general sentiment: “BlackRock’s inclusion of an oil CEO on its board raises questions about its ‘woke’ status.”

Furthermore, according to the Business Insider story, this decision to appoint Aramco CEO Amin Nasser to its board has given critics more reason to doubt the firm’s commitment to social responsibility. The controversy surrounding this appointment, combined with recent scandals and legal issues, could diminish the prestige BlackRock was hoping to gain through its latest international partnership.

Additionally, it might significantly complicate efforts to market its spot Bitcoin ETF. Especially if the asset manager receives approval from the SEC in the near future, as many anticipate. 


BlackRock’s collaboration with Jio Financial Services to launch a joint venture aimed at providing investment services in India represents a strategic move. This partnership will aid both companies to capitalize on the increasing demand for digital assets in the country. 

Moreover, this partnership aligns with BlackRock’s broader strategy of expanding its presence across Asia and globally, evident from recent key appointments in China and Singapore. 

To know more about BlackRock and Jio partnership, go check out SunCrypto Academy.

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