Mumbai, April 24, 2025 — In a strategic push to bring Web3 technology mainstream in India, Reliance Industries—through its tech arm Jio Platforms Limited (JPL)—has partnered with Polygon Labs to launch JioCoin, India’s indigenous digital currency. While the company remains tight-lipped on several specifics, the early market buzz and rollout details have already sparked widespread curiosity.
The move is seen as a major milestone in India’s transition towards decentralized digital solutions. With the entry of a corporate giant like Reliance, blockchain technology and cryptocurrency may finally break into the country’s mass consumer market.
A Quiet Launch with Loud Ripples
Although billionaire Mukesh Ambani’s Reliance has not officially held a press event or announcement for JioCoin, the digital token quietly made its way into the tech ecosystem, prompting business analysts and crypto enthusiasts to sit up and take notice.
The company’s FAQs describe JioCoins as “blockchain-based reward tokens” that users can earn by engaging with various Jio apps and services using their Indian mobile numbers. But what’s fueling even more interest is the coin’s potential usability and market behavior.
JioCoin Market Price and Growth
As per cryptocurrency forecast site Wallet Investor, the price of 1 JioCoin stood at Rs 23.367306 on April 24, 2025, with a total market capitalization of Rs 4.1 crore. The available circulating supply of the coin is 1,908,130 tokens.
Interestingly, just a week earlier on April 17, the token was priced at Rs 21.244690, marking a solid upward trend in a short span. This early momentum could be a sign of things to come, especially as the token garners more user engagement across Jio’s digital platforms.
What Can JioCoins Be Used For?
While an official whitepaper is still awaited, early reports suggest that JioCoins can be used for:
Mobile recharges and bill payments
Exclusive shopping discounts
Loyalty rewards across Jio’s digital ecosystem
The reward-based model allows Reliance to introduce blockchain utility into the daily lives of millions of Indians, without requiring users to invest or trade in conventional cryptocurrencies.
Simple Steps to Start Earning JioCoins
Reliance has made the process of earning JioCoins straightforward and accessible even to non-tech-savvy users. Here’s how anyone can get started:
Download and install the JioSphere browser on your device.
Sign up using your Jio number—this links your identity to the digital wallet.
Access your JioCoin wallet via the browser or the MyJio app.
Start using Jio apps to accumulate JioCoins automatically.
Users can earn JioCoins by simply browsing with JioSphere or engaging with popular Jio apps such as JioCinema, JioMart, and MyJio. The token rewards seem designed to incentivize more user engagement and app stickiness across the Jio ecosystem.
Web3 for the Masses?
This bold move aligns Reliance with the global trend of Web3 adoption, yet keeps it tailored for Indian consumers. By tying rewards directly to Indian mobile numbers and native applications, JioCoin is positioning itself as a practical alternative to speculative crypto coins—essentially becoming a digital loyalty program powered by blockchain.
With Polygon Labs onboard as the tech partner, scalability and transaction speed are expected to be on par with global standards. Polygon, founded by Indian engineers, has already seen international success and now brings that expertise back to Indian soil in collaboration with the country’s biggest conglomerate.
What Lies Ahead?
As JioCoin continues to gain visibility and functionality, the biggest questions now revolve around regulation, transparency, and long-term utility. Will it remain a rewards-only token, or will it evolve into a full-fledged tradeable crypto asset? Will the government support this initiative or step in with restrictions?
For now, however, JioCoin represents a significant leap forward in India’s digital journey—a homegrown initiative with the potential to make Web3 accessible to millions.
