With the advent of 2025, Reliance Industries, India’s largest business conglomerate, has dared to venture into Web3 space with launch of their “JioCoin”, a blockchain based reward token, that is offered to Indian users of ‘Jio Platforms’ applications. While JioCoin is not a cryptocurrency per se, due to existing technical legalities in Indian crypto regulation space, this step by Reliance Industries shows that they are ready to disrupt the crypto ecosystem in 2025.
On January 15, 2025, Jio Platforms, a subsidiary of Reliance Industries, took the internet by storm by announcing its collaboration with Polygon Labs to integrate Web3 capabilities for its vast user base. Moreover, Reliance Jio also launched JioCoin under its blockchain-based rewards program.
The partnership between Jio Platforms and Polygon Labs intends to improve user engagement and provide innovative blockchain-based services to its 450 million user base. Through this partnership, all Jio users will able to utilize all the benefits provided by Web3 such as robust security and privacy.
The firm also plans to reward its users through JioCoins. Indian users can earn these blockchain-based reward tokens through Jio apps and by connecting their mobile numbers with the app.
However, the company has not made any official announcements as of now, a beta version of the coin is available on the official Jio Sphere app. So let’s dig deep into this topic and understand what is JioCoin and how to avail these reward tokens.
What Is JioCoin?
JioCoin comes under the “Jio Blockchain-based Rewards Program”, currently referred to as the Blockchain-Based Reward Programme (BBRP). According to official sources, JioCoins are blockchain-based tokens that were used to reward the platform or app users. To earn these coins users have to take part in certain activities through their mobile on different JIO platforms and apps.
Moreover, to get these reward tokens users have to integrate their India registered mobile number into the app or platform.
How to Buy JioCoins?
To get benefit of the Jiocoin, first a user has to download the JioSphere official browser app from the Google Play Store.
After completing the download process you will find the main dashboard of the JioSphere browser app. In the main dashboard, you will find a pop-up notification of “Sign in to start earning JioCoin now”.
To complete the signup process you have to fill in details such as your personal mobile number and name. By completing this process app will generate a JioCoin wallet within the app where you can visit and maintain your earned reward coins.
Earning Process: If you have completed the signup process and generated the JioCoin wallet then you are eligible to earn JioCoins. To earn these reward coins, users have to engage with the Jio application. On completing certain tasks your Web3 tokens will be deposited in your wallet. Furthermore, the value and amount of the token depends on the user engagement.
Where to Use Your JioCoins?
As the process is in the beta stage, the company didn’t give the much details. According to their official app, JioCoins redemption details and steps will be announced shortly within your app wallet. Experts believe that JioCoin might not fall under the category of a Virtual Digital Asset (VDA) due to existing norms.
Community Reaction On JioCoins
The crypto community was flooded with updates and memes as the news broke on X. Some of the users were optimistic about the coin while some were doubting its legality, veracity and ultimate success. Users have also raised concerns about how JioCoin is not a real cryptocurrency rather then it is a reward token that will be used for doing recharges and other kinds of stuff.
Popular crypto influencer Kashif Raza also shared his view on this venture as he looks optimistic on the Jiocoin launch and the partnership between JIO and Polygon. According to him, the crypto space has 500 million users, and Jio has 470 million users. Jio can bring 400 million people on-chain in the next few months through this partnership.
What is Reliance’s End Game with JioCoin?
Reliance’s main objective in launching the JioCoins is to reach out to Web3 ecosystem in India in order to amass users to its platform. Initially, Jio will provide reward tokens to users on their user engagement. Users might buy gifts, book tickets, recharge and carry out other activities with these tokens just like gift cards.
Moreover, Reliance has been planning to launch JioCoin since 2018 which was delayed due to various reasons. Through this move, Jio is planning to disrupt the cryptocurrency market next. Besides all this, it is a win-win situation for Polygon as it will also benefit from Jio’s massive user base.
Final Thoughts
Through JioCoin, Reliance has taken a giant step in its march towards crypto sector. The partnership between JIO and Polygon is expected to empower Jio users by providing access to innovative blockchain solutions and services that could transform how they interact with digital assets and online platforms. The collaboration signifies a major step towards mainstream adoption of blockchain technology in India, given Reliance’s significant market presence.
Also Read: India’s Crypto Policy is Submissive, Claims Congress Minister
