
Reliance has forayed into the world of cryptocurrency, stirring interest with JioCoin, a crypto token integrated into the JioSphere web browser. Built on Ethereum Layer 2 and listed on Polygon, JioCoin is making appearances on the smartphones of JioSphere users across Android and iOS platforms. While there has been no formal announcement yet, user observations have sparked conversations.
Reliance explains in its FAQ section that JioCoins are blockchain-based reward tokens. These tokens can be earned by users engaging with various Jio apps and internet-based activities, provided they use Indian mobile numbers. User engagement appears to be the key driver of earning these Web3 tokens, which will be stored in digital wallets. Apps like MyJio and JioCinema may soon incorporate this reward system, making everyday interactions more rewarding for users.

JioSphere’s description highlights that users can earn JioCoins for free by browsing the internet through the JioSphere web browser. These coins are deposited into wallets powered by Polygon Labs. However, details about the token’s exact value or trade options remain sparse. Speculation hints that JioCoins might be usable for mobile recharges, bill payments, or other Jio services, though these possibilities are yet to be confirmed.

An official announcement from Reliance is expected soon, where specifics around JioCoin’s value, capabilities, and use cases will likely be shared. Until then, the crypto community is watching closely.
The regulatory environment in India poses some hurdles for JioCoin. Cryptocurrency earnings in the country are taxed at 30 per cent on profits, alongside a 1 per cent tax deduction at source (TDS). Recent security concerns have cast a shadow over crypto’s reputation in India. Despite these challenges, blockchain-based currencies like Bitcoin continue to command global attention, suggesting a robust future for tokens like JioCoin.