Reliance Jio launches JioCoin on Polygon, rewarding users via JioSphere browser for engaging with its ecosystem.

Indian telecom giant Jio Platforms, owned by billionaire Mukesh Ambani, launched its reward-based token, JioCoin, on the Polygon network. On Jan. 16, users on X noticed JioCoin integrated into Jio’s proprietary JioSphere browser. This followed Jio’s partnership with Polygon Labs to enhance its offerings with Web3 and blockchain capabilities.

Jio Platforms has launched JioCoin, a reward-based token built on the Polygon network, integrated with its JioSphere browser. JioCoin is not yet transferable or redeemable, with no official utility announced. Critics have raised concerns over the token's transparency and functionality.

This comes in the background of the RBI expressing concerns over any privately held 'virtual coins' and cryptocurrency continuing to remain a subject of debate among India’s policymakers. Globally, though,

Reliance Jio quietly launches JioCoin, a Polygon-based blockchain reward token aimed at engaging users through its ecosystem.

Mukesh Ambani-led Reliance Industries' technology subsidiary Jio Platforms recently announced a partnership with Polygon Labs, the developer arm of Polygon Protocols for its Web3 and blockchain debut in India.

Jio Platforms Ltd (JPL) a technology company and a subsidiary of Reliance Industries Limited, has entered a strategic partnership with Polygon Labs, the developer arm of Polygon Protocols for its Web3 and blockchain debut in India.