Mukesh Ambani-led Reliance Jio, India’s dominant telecommunications company, has launched the digital token Jiocoin as part of its blockchain-powered rewards program for its 450 million user base. The new coin has been integrated into Jio’s proprietary JioSphere browser,

JioSphere web browser users have started to notice the addition of JioCoin, a crypto token built on top of Ethereum Layer 2, and currently listed on Polygon Labs, a cryptocurrency platform. While there has been no official announcement from the company yet,

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.

Mukesh Ambani’s Jio Platforms Ltd a unit of Reliance Industries has reportedly launched JioCoin, a reward token, on the Ethereumlayer 2 network Polygon. However, no official announcement about JioCoin, but a lot of users have seen the reward token was mentioned on JioSphere, a browser that works with both iOS and Android smartphones.

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.

Jio Platforms, an Indian mobile network operator owned by Asia’s richest person, Mukesh Ambani, has partnered with Polygon Labs to upgrade some of its existing offerings with Web3 and blockchain capabilities.

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,

Jio Platforms Ltd (JPL), a top tech company owned by Mukesh Ambani, has teamed up with Polygon Labs to use Polygon's blockchain technology.

Web3 envisions the internet as a space where blockchain technologies and other decentralised tools and systems become mainstream [File] | Photo Credit: REUTERS

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.