Interoperable Layer-1 blockchain Injective announced on Thursday that Deutsche Telekom’s subsidiary MMS is officially a validator on its network.
According to the press release shared with Cryptonews, the telecommunications giant “will play an instrumental part in operating and securing the Injective blockchain.”
The Injective team noted that the network’s use cases include digital asset trading, tokenization, lending, and payments. Validators help to ensure the security, accuracy, and reliability of all these offerings.
Additionally, it said, this collaboration is “a significant milestone for the institutional orientation” of Injective.
Injective is “thrilled” to partner with one of the world’s leading telecommunications companies “to help secure our network and validate transactions,” said Injective CEO Eric Chen.
The collaboration is another example of Web3 becoming more institutional and fully integrated into “a society that understands that a decentralized blockchain offers reliability and security, the importance of which cannot be overstated when dealing with financial matters,” Chen noted.
Per Oliver Nyderle, Head of Digital Trust and Web3 Infrastructure at Deutsche Telekom MMS, this partnership will foster true decentralization and will boost security for all users.
“This partnership aligns with our commitment to combine technology with safety and trust thus enabling secure progress for humans, and we look forward to being a part of this future,” he said.
Meanwhile, in early February, Injective launched an on-chain index through its DEX Helix, aiming to tokenize all financial assets, enabling their sale, purchase, and trade fully on-chain.
Doubling Down on Web3
Injective is the interoperable layer-1 blockchain that offers a full suite of products for developers and end-users. Binance has incubated it, while investors such as Jump Crypto, Pantera, and Mark Cuban back it.
Furthermore, per the team, Injective is a top L1 based on protocol value. It has facilitated over 1 billion transactions onchain.
According to DeFiLlama, at the time of writing, the chain had a total value of $39.48 million (TVL) and $4.18 million in 24-hour volume.
At the same time, the INJ coin is up 1% in a day, currently trading at $13.76. It is down 12% in a week, 27% in a month, and 63% in a year.
Meanwhile, per the website, Deutsche Telekom has more than 252 million mobile customers. It boasts 25 million fixed-network lines and 22 million broadband lines.
Also, the company is present in more than 50 countries. It generated revenue of 112 billion Euros in the 2023 financial year.
Also, the company is no stranger to Web3 and blockchain. In November 2023, Deutsche Telekom MMS became a validator for a privacy-enhancing layer-1 blockchain Aleph Zero.
By June 2023, over 60 million euros of assets from Chainlink, Ethereum, Celo, Q, Flow, Polkadot, Polygon, and Energy Web were on the company’s infrastructure.
And Deutsche Telekom was far from done. Dirk Röder, Head of the Web3 Infrastructure and Solutions Team at Deutsche Telekom MMS, said in November 2023 that there was more news and developments in the pipeline. The company is committed to keeping pace with the evolving digital landscape, he said.
“Deutsche Telekom is actively exploring and working on additional initiatives and partnerships within the blockchain and Web3 space,” Röder added.
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