Jio Unveils JioCoin, Entering the Web3 Space with Polygon
Jio, India’s telecom giant, has officially launched JioCoins, a digital token built on the Polygon blockchain, marking a significant step into the world of Web3. This initiative rewards users simply for browsing the internet using Jio’s own JioSphere browser, opening up exciting possibilities for millions of Jio users to explore this innovative technology.
Earning JioCoins is straightforward. Users need to install the JioSphere app, available on both Apple and Android platforms, create an account, and start browsing the web. As they surf the internet using JioSphere, they automatically accumulate JioCoins, which are then stored in their Polygon wallet. This system hints at a broader integration within the Jio ecosystem, suggesting that popular platforms like MyJio and JioCinema could soon incorporate JioCoin, further incentivizing user engagement. The value of these tokens will be connected to user interaction with Jio apps.
This launch signifies a powerful partnership between Jio and Polygon, combining Jio’s vast user base with Polygon’s advanced Ethereum Layer 2 solution. This collaboration promises faster and more cost-effective transactions, while simultaneously boosting Polygon’s presence in India. This move could also inspire other major companies to introduce their own corporate-backed tokens, reshaping the digital landscape. Jio Platforms Ltd. (JPL) has partnered with Polygon Labs to bring Web3 capabilities to its services, impacting over 450 million users. Kiran Thomas, CEO of JPL, has highlighted this partnership as a crucial step towards digital advancement. Polygon’s founder, Sandeep Nailwal, expressed enthusiasm, recognizing this as a major leap for Web3 adoption in India and expressing eagerness to collaborate with Jio in introducing Web3 to its massive customer base.
The introduction of JioCoins arrives amidst India’s complex regulatory environment for digital currencies. With existing regulations including a 30% tax on profits and a 1% TDS, JioCoins will likely fall under these rules. The Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI) will closely monitor the usage of JioCoin. The classification of JioCoins by income tax authorities—whether as taxable assets or another category—remains a point of interest.
The concept of JioCoin has been circulating since 2018. However, it was in January 2025 that Jio formalized its partnership with Polygon, signaling the imminent arrival of JioCoins. Reports from 2018 indicated that Jio Platforms had a dedicated team working on a blockchain token, led by Akash Ambani. An official announcement regarding JioCoin is anticipated soon, which will likely provide details about its value, trading features, and functionality. Until then, Jio users are anticipating how this new digital token will integrate into Reliance’s extensive ecosystem, potentially transforming the future of digital transactions.
