Jio Platforms has reportedly introduced JioCoin on the Polygon blockchain network as a reward token for browsing through JioSphere, Jio's web browser. The token is currently non-transferable and non-redeemable.

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 has introduced a new reward token called JioCoin on the Polygon blockchain network. The launch has sparked discussions among users regarding its potential applications, though the company has not yet provided official details about its utility.

JioCoin, backed by Mukesh Ambani's Reliance Industries and Polygon Labs, is generating buzz as a potential game-changer in India’s digital economy. Positioned as a utility token, it could power services like JioMart,

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.

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,

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.