Collaboration aims to tokenize real-world assets in sustainable transportation with plans to expand fractional ownership model to the growing Indian EV market.
Polygon Labs announced a partnership with green asset tokenization platform Pyse to deploy blockchain-integrated electric motorcycles for food delivery services in Dubai, with intentions to expand the initiative to India, the companies announced Tuesday.
The collaboration will enable Pyse’s electric motorcycles to be tokenized on Polygon’s blockchain infrastructure, allowing for fractional ownership of these sustainable mobility assets. This marks a significant development in the integration of real-world assets (RWAs) with blockchain technology.
“Our collaboration with Polygon represents a pivotal moment for Pyse as we bridge the gap that exists with the financing of green assets,” said Kaustubh Padakannaya, Co-Founder and CEO at Pyse.
Beyond electrifying last-mile logistics, Pyse is implementing Depin Mining Machine (DMM) technology that converts these motorcycles into mobile data collection points. This technology allows Decentralized Physical Infrastructure Networks (DePIN) projects to gather urban data on noise pollution, air pollution, and road conditions.
Aishwary Gupta, Global Head of Payments and Liquidity at Polygon, emphasized the strategic importance of the initiative, stating, “RWAs and DePIN are key focus areas for Polygon, and we’re excited to work with Pyse to bring institutional-grade green assets to retail.”
The partnership comes at a time when India’s electric vehicle market is projected to grow by 18% annually. The country’s increasing focus on sustainable infrastructure and electric mobility makes it an attractive market for blockchain-powered real-world assets.
Pyse has already demonstrated success in sustainable transportation, having deployed over 500 electric vehicles and installed 8MW of renewable energy capacity across India and the UAE over the past three years.
The Indian market, with its young demographic and growing interest in both electric mobility and digital assets, represents significant potential for the fractional ownership model that Pyse and Polygon are developing.
Industry analysts note that tokenization of physical assets could help address financing challenges in green infrastructure development, potentially accelerating adoption of sustainable technologies in emerging markets like India.
This initiative aligns with India’s broader sustainable development goals and could offer new investment opportunities in the country’s green transition, according to economic observers tracking the intersection of blockchain technology and sustainable development.
Polygon Labs is known for its Ethereum scaling solutions and infrastructure development, while Pyse specializes in transforming real-world assets like electric vehicles and renewable energy systems into investment opportunities through tokenization.
Source: autocarpro
