Recently, Indian business tycoon Mukesh Ambani owned Reliance Group conglomerate finally took the plunge into the world of cryptocurrencies by launching their own ‘JioCoin’- a blockchain based reward token-that can be interchangeably used on different ‘Jio’ platforms by customers.
The JioCoin initiative, started via ‘Jio Platforms- a subsidiary of Reliance Group, has had a rather subdued, under the wraps launch last month. There were no official announcements made nor a mega launch event hosted as is the usual case with Reliance Group. JioCoin technically is not even a cryptocurrency but a reward token, which customers can earn through different Reliance Group platforms like Jio Messaging app and Jio Sphere browser app.
This subdued launch of JioCoin has left crypto industry experts baffled as they predict a storm before the lull, anticipating a major business move by Reliance Group which can disrupt India’s crypto industry- repeat of 2016 when Jio Telecom broke the telecom competition in India by announcing free data and calling services.
As Reliance is now entering the crypto arena experts believe the company is adopting the same technique to disrupt and dominate the Indian crypto industry and it’s just a matter of time before the mega announcement is made. The parallel news development of Indian government thinking of a policy shift on crypto regulations in India is also something that Reliance will be closely observing, perhaps, before showing all their cards.
Moreover, the crypto fans also have various unanswered questions about this new venture and in this article, we will address them one by one. So without wasting more time let’s get started.
The Jio Playbook: Lessons from Telecom Disruption
Reliance Jio Telecom’s entered India’s telecommunications sector in 2016 with a storm. The company adopted a unique strategy and offered free calls and data services for more than a year. This aggressive strategy broke the legs of its competitors.
This strategy forced the established players to either adapt or exit the market. Just after six months of its launch, Jio acquired millions of subscribers from the market. Moreover, within just one year of its launch, Jio became the market leader in India’s telecom sector.
The company replicated this strategy in various digital sectors. JioCinema’s recent move to offer premium content for free, including major sporting events like IPL, demonstrates the company’s commitment to this proven approach. The strategy is clear enter the market with a product, provide free or heavily subsidized services, break the competition and become a dominant player in that sector.
If Reliance Jio applies the same strategy in the cryptocurrency market it will potentially follow a similar playbook. This time company could benefit from its large user base to introduce cryptocurrency services with minimal entry barriers.
JioCoin: A Unique Approach to Crypto by Reliance
JioCoin was developed by Reliance Jio and launched its beta version in January 2025 which generated a tremendous buzz.. However, JioCoin is different from traditional cryptocurrencies such as Bitcoin and Ethereum. This coin is a blockchain-based reward token that will be provided to its platform users for various engagement activities.
For this, the company tied up with blockchain giant Polygon Labs. With this partnership, Jio aims to incentivize its customers and want to attract more users to their platforms. The company already started the beta version of the JioCoin program on its apps such as JioSphere, Jiomart, and more. Through this coin, users will be able to buy various products and services from the Jio platforms such as recharges, subscriptions, and more.
The official price of the JioCoin was not disclosed yet. However, the experts believe it can be around $0.50 (Rs 43.30) per token. If this happens then it might attract millions of new users to all Jio platforms similar to the JIO telecom services launch. However, its important to note that these are just market speculations and one must always do their own research before making any cryptocurrency related investment.
JioCoin Potential Impact and Challenges
JioCoin already has a large user base of 450 million Jio platforms’ users. With this large user base, JioCoin can revolutionize the Indian blockchain space and establish itself as a leader in the Indian crypto space. Mukesh Ambani is the biggest Indian businessman and Reliance is the largest Indian company. Their presence in the cryptocurrency sector could have a positive impact on the digital assets ecosystem.
Right now, as the JioCoin is in its initial state as it develops it could bring revolutionary changes to the Indian crypto space. Let’s explore some of these possibilities.
JioCoin Could Be A Solution to Regulatory Hurdle in India
India has some strict rules over cryptocurrencies. The Indian government imposed heavy taxes of 30% on the crypto gains and 1% TDS. If Mukesh Ambani’s JioCoin officially launches in the crypto market then cryptocurrencies will get the mainstream media attention from Indian citizens to the government. This means Indian government could bring some positive regulatory framework to cryptocurrencies. Under Mukesh Ambani and co, cryptocurrency could indeed go mainstream in India.
Final Thoughts
Through JioCoin, Reliance’ entry into Web3 marks as an unprecedented event in India’s crypto community. With Reliance setting itself as a global business conglomerate, its entry in the cryptocurrency arena definitely overcomes common barriers to crypto adoption. However, these are all just possibilities right now and only time will tell whether Reliance Jio will disrupt and dominate the Indian crypto space or not.
Also Read: Jio Messages App Now Displays JioCoins as Rewards
